Bitcoin: BTC Is Showing Signs Of Weakness (October 2019)
- 5 years ago
Bitcoin: BTC Is Showing Signs Of Weakness (October 2019)
Bitcoin (BTC) has broken past the key descending triangle as we discussed. This is nothing extraordinary as it has happened before. However, it is important to highlight such moves because the purpose of our analyses at Crypto Daily is to help retail traders understand how they are tricked into making bad trades by the big players in this market and how to combat such antics. The price has failed to garner any momentum to break higher and we can see that it has been struggling to flip bullish but every time it pumps, it retraces back leaving a long wick to the upside. Meanwhile, we have seen that BTC/USD keeps declining to the support at $9,029 and the more often it does that, the higher the probability that it is eventually going to break below it.
Bitcoin (BTC) has broken past the key descending triangle as we discussed. This is nothing extraordinary as it has happened before. However, it is important to highlight such moves because the purpose of our analyses at Crypto Daily is to help retail traders understand how they are tricked into making bad trades by the big players in this market and how to combat such antics. The price has failed to garner any momentum to break higher and we can see that it has been struggling to flip bullish but every time it pumps, it retraces back leaving a long wick to the upside. Meanwhile, we have seen that BTC/USD keeps declining to the support at $9,029 and the more often it does that, the higher the probability that it is eventually going to break below it.