Bitcoin bears have been relentless, but bitcoin bulls might have one last trick up their sleeves. Monday's break of $4000 support has failed to produce continued downside, with little to none followthrough. It seems it is going to take a lot more bearish selling volume to pull BTC back to to the lower to-mid-$3000 range.
This current bear market broke a new record, and it’s a negative one: As of writing this, the leading margin trading exchange Bitfinex had broken its all-time a high number of open short positions on Bitcoin. This has happened as the short positions just crossed 41,000 BTC. The bad news is for the bulls: As […]
Key Points Bitcoin price declined further and broke the $3,550 and $3,420 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $3,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to decline further and it may even test the