Bitcoin (BTC) has slowed down the weekend. But he still could not move more than $ 4,000, which proved to be an important level of psychological resistance for the $ 4,000 crypto currency. Although Bitcoin has been able to climb continuously over the past few days, analysts now think the crypto currency cannot exceed $ 4,000.
Bitcoin is stable over $ 3,900, but losing momentum
During the match, Bitcoin fell 0.40 percent to $ 3,938 a barrel. Since the beginning of this week, BTC has been able to remain stable over $ 3,900, but has not been able to achieve a significant upward pressure on the $ 4,000 basic psychological price level.
Late yesterday, BTC sharply fell to $ 3,880 before rising to current price levels. This price movement may indicate that the leading cryptocurrency has generated a relative level of support exceeding $ 3,800. Although Bitcoin has been climbing up regularly over the past few days, analysts are still waiting for the leading crypto currency to be subject to more sales pressure in the near future.
Cryptomist expects more decline in Bitcoin
Cryptomist, a popular crypto currency analyst on Twitter, recently announced that Bitcoin is likely to fall further in the near future. Cryptomist makes the following statement about his topic:
And now I see this sign of further decline in BTC… Kama is rising and there is a downward trend m I expect to fall from this wedge
This is what I am seeing right now
Rising wedge, and a bearish divergence on the 4hr
– The Cryptomist (@TheCryptomist) March 9, 2019
Analyst: Bitcoin may fall as long as it cannot hold support for $ 3.920
Other popular analysts are currently emphasizing a similar downward trend. CryptoUB, another popular analyst on Twitter, said that recently, Bitcoin is expected to face increasing sales pressure until it has determined the current price zone as a strong level.
$ BTC – My shorts are beginning to fill. I'm not interested in red ($ 3920 – $ 3940) is established as support.
Key S & R levels for my short:
– $ 3815.
– $ 3693.
– UB (@CryptoUB) March 9, 2019
Over the past few months, crypto markets have often witnessed volatilities of increasing levels during the weekends. This may mean that analysts and traders can get more insight into the direction in which markets are coming soon.
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