Analysts Think Bitcoin Has Topped As BTC Stumbles In $8,000 Range

At long last, Bitcoin (BTC) has simmered down, with the asset falling to $7,900 from a weekly high of $8,350. This has led some, like popular analyst Filb Filb, to consider the idea that the cryptocurrency market have topped… for now anyway. In a recent tweet, the analyst, who recently won a one BTC bet with Leah Wald and Tyler Jenks, suggested that the “local BTC top is in”.

He notes that the long-short ratio on Bitfinex has been “nuked”, dramatically reducing the chances of a short squeeze, which would pressure Bitcoin higher. What’s more, bid support (buy support) is decreasing hour-over-hour, the parabola that BTC has traced for the past few months is “shaky”, and there is decreasing volume in this embryonic market, all signs which aren’t too reassuring.

Original source
https://ethereumworldnews.com/analysts-think-bitcoin-topped-stumbles-8000-range/

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