Fundstrat Tech Guru: Bitcoin Bulls Lose Upper Hand After Very Damaging Drop20.36

According to a notable technical analyst, the recent Bitcoin price drop significantly deteriorated the case for a pending market reversal, signaling that bulls must do a significantly greater amount of work in order to reverse the persisting bear market.

Rob Sluymer of Fundstrat Global Advisors first claimed that Bitcoin bulls must defend $6,800 and $6,600 a day before the major price drop, where Bitcoin fell from nearly $7,400 to its current levels of $6,400. Sluymer theorized that a drop below the “crucial” $6,600 level would likely lead to a retest of Bitcoin’s year-to-date lows around the $6,000 level.

Original source
https://www.newsbtc.com/2018/09/08/fundstrat-tech-guru-bitcoin-bulls-lose-upper-hand-after-very-damaging-drop/

Add comment

Please Sign in to be able to leave comments.