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Author Topic: Bitcoin Faces Close Below Long-Term Support In First Since 2015  (Read 47 times)
boroda074
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May 28, 2018, 06:18:01 PM
Merited by billyj111 (3), Yara1996 (3)
 #1

Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over two-and-a-half years.

With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended.

What do you think about it?

Continue here : https://www.coindesk.com/bitcoin-faces-first-close-below-this-key-long-term-support-in-2-5-years/

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hugeblack
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May 28, 2018, 07:12:17 PM
 #2

This news is pretty old since it's since 25/5, the price now is below $ 7200 and is expected to return to $ 6000 soon.
I think the $ 6,000 level represents the bottom price of the Bitcoin price and it is unlikely the price will fall further.
Regarding the averages you mentioned, I think news rather than technical analysis influences the price." any good news will return the price to $ 8000 quickly."

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May 28, 2018, 08:54:18 PM
 #3

Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over two-and-a-half years.

With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended.

What do you think about it?

Continue here : https://www.coindesk.com/bitcoin-faces-first-close-below-this-key-long-term-support-in-2-5-years/


Man, as much as I want to ignore this, I really can because it is not just a stupid claim but a claim
based on the history of bitcoins which makes me even scarier. I wish that this really never happens
because if it does we really are doomed. I hope everyone will hold and not give to the temptation of
panic selling.

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May 28, 2018, 09:00:03 PM
 #4

TA means nothing in crypto........... wise up

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