Bitcoin Forum

Bitcoin Price Intraday Analysis: BTC/USD Rejects Bulls, Once Again
Bitcoin price on Thursday extended its prevailing bearish correction sentiment and dropped as much as 6.5 percent from the yesterday’s low near $6,710.

The BTC/USD in the very first hours of today’s session formed lower highs and lower lows towards 6731-fiat and 6303-fiat. It very much set the sentimental course for the rest of the Asian and European session. Both the trading sessions lacked strong bullish corrections, putting BTC/USD on a slow path to the downside. At the early European hours, the pair retested 6306-fiat as the range bottom, only to recover towards 6500-fiat.

In the opinion of many strategists, Goldman Sachs’ decision to halt its long-planned cryptocurrency desk over regulatory issues caused the latest BTC/USD correction. However, the factor is too lousy to correlate for a market that has been in a massive bearish formation since November 2017. Even in the recent price action, we noticed the pair’s bullish momentum getting slowed down near our previous Rising Wedge resistance. We had expected a breakout scenario, anyway.
https://www.ccn.com/bitcoin-price-intraday-analysis-btc-usd-rejects-bulls-once-again/

6.5% percent fall just in a day is really very sad but we can do nothing on this. We just can wait with patience for the recovery of the price.I also have the same feeling like Goldman Sachs that the regulation is the reason behind the fall. What you can do is buy some more coin in this low. 

Well, the decision of Goldman Sachs has brought a negative impact in the market. The long planned cryptocurrency trading desk is not going to occur. Goldman Sachs has aborted this plan. The price of Bitcoin has dropped a little. I hope the investors will try not to panic in this situation.

The cryptocurrency market can never be predicted. The price of Bitcoin was getting stable for the last few days until the decision of Goldman Sachs to abort the cryptocurrency trading desk plan was declared. The price of Bitcoin has lowered since this news has been published. Let's see what happens.

What really baffles us to see that the people are actually giving attention to what Goldman has to say, and there seems to be no reason behind it. First the ETF and now this. The market seems to be unable to catch a break.

I am very glad that you have provided us this information but I am not sure about this up cause I haven't here about this , but yes prediction can be turn wrong sometimes here so we should be panic or loss hope

things here changeses every moment so it is not very weird that if you have predicted or expect something and that doesn't happen , and a bull run is not a thing which appear everyday so if you have the opportunity then use it will instead of missed it

if you analyzed this place well then you will able to understand it that this place is not actually a place where you can use you prediction powers cause things are very unstable here so if you are claiming that bull have been missed then I will say that it is normal for the market

i am agree with you. i think Bitcoin now going an upside correction on a bounce back from its intraday low at 6303-fiat and also 6500-fiat as its psychological resistance.

Bitcoin prices can be reduced at any time in the cryptocurrency market. And there are many reasons to reduce this price. Although we can not always find the reasons parfectly. As an investor, I hope we will get our desired return at a very short time.

In the cryptomarket, the price of Bitcoin fluctuated. I never get frustrated when the price drops and I wait for better situation. Since I am an investor I always think that my future will be profitable.

It become very difficult for one to predict bullish market now and one can easily predict bearish trend. I think this rejection has seriously affect the market and we can see the effect since yesterday. The anticipated bullish trend in September seeing to be over.

We often guess different types of things. Our guess is not always right. We had hoped that the price of Bitcoin would be upwards for more time. But we are not hopeless for that. Hopefully it will overtake the previous position again .

As an investor that’s a bad news for me and also other investor. I think just wait few days and hope that price will be increase again.

that a shocking news for me as an investor.but i think price will be boom within few days

It is a very disappointing fact happening with Bitcoin. This is for another time the price lower down. All the prediction fails. But still analyser saying that, before the end of this year it may soar up.

It will take some times so don't expect it will be boom with in a days. Because market was totally collapsed so most of the investers are stay away in crypto investment. I think market will be recover in next month and we should not expect huge pump in short period so slowly recovering in crypto market.

We can not do something about it, In a bearish market this is something normal to happen aside from the drama involve in every lost souls that are panicking because of the drop in every percentage they are seeking to sell their coins even more, I don't blame for their patients are really weak enough to subdue their investment sooner than expected, But the right thing to do it to shut down your PC and keep away from your wallet because it is not good to see another drop from the market, But to revert your focus with other things for now and let the market recover back again, Because if you invest On May this year, You would surely have a doubt if its gonna turn the tables around.

This decline was caused by investors who began to worry about warnings from a number of regulators and increased crackdown on the Bitcoin market

The market has been quashing any bullish momentum for the past 6 months or more now. From here though I believe soon there will be some significant movement one way or another. Each time the breakout is to a lower level. That suggests to me that either the resistance around 5800 will soon fold or that the soon the breakout will succeed because each time it's not being allowed to go quite as high for fear that it won't be able to be brought back down again.

It is not even about investors worrying anymore, this is the fact that the market is generally bearish and there is nothing we can do about it. Obviously the whales who are the market makers are out to chase out the weak hands totally but for those who are smart enough , it would be another great opportunity just to buy at a lower value. I believe that by now things like this should be expected in this market as long as people realize the bears are still in control.

Very sad news! Its price fell down for another time. I don't know when it will rise. Most of new investor fearing but not ray of hope yet.

Prediction fails again and again.I believe this new source. A few month ago bitcoin fall in bear market that is price decreased. A long time passing, no ray of hopes of its improvement.Analysers say, before the end of this year, price will be recovered.

Exactly, this time we are only 1000$ away from a change in the weekly trend. The 5700-6200 are has been a strong support 4 times in a row. In fact the weekly charts are showing a descending wedge which is a bullish indicator. I would only worry if we fall below 5500$ at this point.

Why are we ignoring the fact that a 100 million worth of dumped also happened beside the Goldman Sachs halt? Manipulation is what created the unrest in this space and now people are slowly diverting the whole crash towards Goldman Sachs' decision to not join exchange market. Even if they did, it wouldn't have a significant effect in market

It just creating a scenario that would justify their manipulation in reality they wanted to make the to go down to make them into an advantage points to buy cheaper bitcoin in preparation for the bull run. If you think it as an opportunity this is the right time to reload your portfolio before it happens.

BTC/USD Rejects Bulls, Once Again a news to be disappointed. Also, there is a fluctuation in prices but the good news is recovered towards 6500-fiat. But I think the decision of Goldman Sachs to issue long-planned Cryptocurrency can be effective for correction.

I don't think there will be any pull back like this in the remaining months of this year. Though I wouldn't really blame Goldman Sachs' incident behind the crash of price but a pull back was imminent because of the price rising at a very faster pace than it should have been. The recovery will definitely place Bitcoin to a good position by the time the year ends.