The Doubts of the Buyers May Lead to a Downward Trend

The Doubts of the Buyers May Lead to a Downward Trend

Bitcoin’s price has broken through an important resistance level, which could lead to a turn to growth, but it failed to fortify on it. How can we determine the traders’ mood by looking at the price dynamics? After a break through the level of $416.7, a powerful recoil followed. This shows that the majority is still expecting a downward trend, given that that level is profitable for sale deals. After that, the scenario has repeated itself: a new growth impulse with a breakthrough and a following recoil. This situation indicates the market’s uncertainty. One group of traders is making....


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http://cointelegraph.com/bitcoin-price-indexThe Bitcoin price is undergoing a correction within a downward trend. It’s approaching a point where it will decide between a continuation of the downward momentum, or an upswing. The downward trend has nott been broken yet. The current growth is just a rebound towards the medium-term downward direction. The BTCUSD price did not reach the medium-term resistance level of $417 and has formed a new key level at $409.