[2018-03-14] Bull Weakness Leaves Bitcoin Facing Further Sell-Off

[fonenumba]

Following the bulls' failure to capitalize on bitcoin's recent price recovery, the cryptocurrency could be in for another sharp sell-off, the technical charts indicate.

The cryptocurrency found a temporary low of $8,371 on March 9 and jumped above $9,000 in a convincing manner on March 11, according to CoinDesk's Bitcoin Price Index (BPI).

However, the corrective rally seems to have stalled over the past few days.

The cryptocurrency has spent a better part of the last 48 hours moving in a sideways manner in the narrow range of $8,800-$9,400. As of writing, the BPI is seen at $9,095 - down 0.5 percent for the session.

https://www.coindesk.com/bull-weakness-leaves-bitcoin-facing-further-sell-off/

[Schirer]

Most technical analysts calling for 6000 ish retreat.

It is a shame because we had a good rally almost till 12k recently but after that Mt gox sell off again ( in my view had a real impact )  which send us down with possibly fake news help from big players and now we go down.

I believe the whole market is in trouble and we wont see a significant positive trend in a month or so . We need fresh money in the market, ETFs could be the answer.