News Bites Bitcoin Daily Chart Alert - Serious Technical Damage Inflicted

 Bitcoin-U.S. dollar prices are solidly lower in early U.S. trading Thursday, have dropped to a two-month low, and more importantly have fallen below critical chart support at the December low, to produce serious technical damage. This suggests another leg down in prices in the near term. Bitcoin-U.S. Dollar remains in a firm price downtrend on the daily chart. Bears have the solid overall near-term technical advantage. It will take a move in prices above chart resistance at $12,000 to give the bulls some technical strength to then stabilize the market. Stay tuned!

Comments

  1. Unknown7 February 2018 at 02:22

    Cryptos are dying, blockchain is thriving. After India and China went against Bitcoin, and with the recent news that major banks such as JPMorgan, Lloyds Banking Group and more, are banning Bitcoin purchases with credit cards.

    More recently though, China went “all in” against Bitcoin.

    Tyler Durden from Zero Hedge reported:

    “On February 4, 2018, according to the Financial Times newspaper run by the People’s Bank of China, a series of regulatory measures will be taken against ICO and virtual currency transactions at home and abroad, including banning the existence of relevant businesses and banning and disposing of domestic and foreign virtual currency exchange websites.”

    Bitcoin just cannot “get enough” of regulations these days.
    I found it on https://www.leaprate.com/forex-brokers/

    ReplyDelete

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