Bitcoin Price Technical Analysis update
again cryptocurrency trade below 10000$- it was expected (look the same story ….)
Is The Bitcoin going to crash same as Chinese stock bubble at 2007
shortly: ““Chinese stock bubble of 2007 wiped out hundreds of billions of market value
Chinese shares have tumbled more than 8% in one day in November 2007
Major indexes had their largest one-day drop ever
Shanghai Composite Index lost 8.5%, to 3,725.56 points.
Stocks fell across the board, with 2,247 companies falling, leaving only 77 gainers.
More than 1,500 shares listed in Shanghai and Shenzhen dived by their 10 percentage point daily limit, led by index heavyweights
Sudden fall wiped almost a third off the value of shares during the course of a few weeks.
The fall was caused by rumors that the Chinese governmental economic authorities were to introduce varying policies that would restrict foreign investment – from capital gains tax to raising interest rates to a clampdown on speculative trading with borrowed money”
Technical analysis:
pay attention to 8600-900$ price level! – closed below this level will send bitcoin to cope with 4200$ price area, or even to lower price to the 3100 $ price While stay above those levels could send bitcoin up again over the last recording-term trend forecast moved is still up as long as 8600$ will hold! Break below 8600$ on weekly basis will send bitcoin to 4200 $ while break below those levels will lead bitcoin to cope with 3100$
Break down on weekly basis 8600+_ $ price area will send bitcoin to 4200$ while staying above could send it back to see new high
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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice