The Bitcoin course was devastating on Friday, when a $ 35 million sale order triggered Bitstamp's violent flash crash. When the domino stopped falling, the cost of the battlefield was only $ 6,894, and more than $ 32 billion had disappeared from the market capitalization of the Cripp.
And Matty Greenspan, the hot bullfighting bull, could not be happier.
FIND A CREDIT HOPE HOLDER AT THE END OF $ 32 Billion
A $ 35 million sale order has caused a sharp collapse in the cost of bats. | Source: Yahoo Finance
Greenspan, a senior eToro analyst, welcomed the sudden decline in daily commodity comments shared with CCN, saying it was a "perfect image" and could pave the way for a new record price of $ 20,000 for Bitcoin.
What can be bullying in this crypto-bloodbath? Greenspan said the sale would give analysts a better idea of the true nature of the recent rally in battle prices.
– The fall is happening right now. This is good because it will allow us to better understand the nature and extent of the recent course. When things go straight, it becomes really hard to tell how far they will go and how far they will fall afterwards. "
"We also need to help us make this distinction and whether it is a bullish market or just a bullish market. Not to mention the fact that it offers a lower price for those who want to buy without having to buy the top. "
The BITCOIN award does not answer to the high stagnation of up to $ 20,000.
The sudden collapse in the cost of the battlefield did not change the long-term upward trend in price. | Source: Mati Greenspan / eToro
Though he may feel uncomfortable with the Crippo catastrophe in 2018, Greenspan pointed out that the sale had not lost a battlefield under key levels of support and that it did not. BTC will fall below its long-term upward trend.
A quick recovery will not only confirm the bullish optimism of the market but will also put the cost of a battleside on a fast track to test the record it reached in December 2017. This is because crypto-crown flags have practically no high level of resistance[technique] As close as $ 20,000.
If the downturn is reversed now and we continue to exceed the recent levels, there is hardly any high level of resistance before $ 20,000.
The previous performance is not an indicator of future results. These are not commercial tips. Cryptos are very risky. So negotiate with caution.
Recalling the facts
- Bitcoin declined by $ 1702 early on Friday, the biggest drop in the day since January 2018.
- Growing up, hourly charting shows that it is possible to test again the resistance of the old resistance against a change in support at $ 7,619.
- The refund of $ 7,619, if any, may be short-lived and prices may fall to $ 6,178 (their lowest daily) over the weekend, as data from 4 hours and daily curve down.
- Rebuilding the 30-day sliding average to $ 5,986 would mean an end to falling prices, while the 30-day moving average (MA) has always been very strong.
- In the conditions of extreme overproduction, Bitcoin dropped by $ 1702 – the biggest fall in prices throughout the day since January 2018.
The market leader in cryptocrime has gone from the opening price (UTC) to $ 7,880 to a seven-day bottom of $ 6,178 at Bitstamp during the trading hours in Asia.
The decline of $ 1702 is the highest since January 17, 2018, according to Bitstamp data. On that day BTC dropped $ 2,171 from the opening price of $ 11,393 and then returned to $ 11,191 at the end of the CTU.
Battle has recovered more than 50% of the lowest levels of today's wave. However, just before betting, his price is still around 8.2% for the same day to $ 7,223.
Today's sale is not a big surprise, as the Relative Power Index (RSI), which is widely followed, reports extreme offshore conditions reporting close to -90 earlier this week.
The exhaustion of the buyer was also evident after BTC's repeated failure to keep 10-month highs above $ 8,300, as seen in the past 72 hours.
In addition, many investors have bundled BTC's recent campaign with Blockchain Week NYC and the consensus of 2019. Therefore, cryptoLight may have been vulnerable to "selling the facts" of decline.
Within 120 minutes to 04:00 UTC, a massive deployment of the long BTC / USD positions (profit taking) was reported, according to the data posted by the Bot Feed Twitter handle @WhaleCalls. In addition, some say online that a large sale order from a country may have led to downward movement.