[2019-06-04] Bitcoin (BTC) Price Declines Sharply

[CryptoBry]

Bitcoin price failed to climb above $8,800 and declined sharply below $8,400 against the US Dollar.

The price failed to hold the key $8,250 support and it even spiked below the $8,000 support.

There is a major bearish trend line forming with resistance near $8,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair is currently correcting higher, but it is likely to face sellers near $8,200 and $8,350.

Bitcoin price is currently trading in a bearish zone below $8,400 against the US Dollar. BTC could start a sharp upward move above the $8,800 and $8,850 resistance levels.

Further Read: https://www.newsbtc.com/2019/06/04/bitcoin-btc-price-declines-sharply-short-term-sell-opportunities/


As of writing this, $7908.16 is the price of bitcoin. The dip is here and can be the best opportunity for us to add more bitcoin to our hoard. People looking for the best time to enter bitcoin should look at this correction now. Soon bitcoin can be accelerating forward and hopefully that time it can steadily go beyond the $9,000 zone.

[1715018279]

1715018279

[shamc]

Kind of good in a way, people know where it is going as a long term trend and this major blip will give them an opportunity to join us at a good price point

[jossiel]

Only means that we're still on the accumulation period. I don't know if this is related to the news about Warren-Sun lunch that has been spread like virus everywhere.

Right now, it's so quick and it's already $7,800. I've read a technical analysis awhile ago and it said that we may potentially see $6,800 - $6,900 as the new support if it breaks $7,500 today. I'm feeling that after this correction, we'll soon see a quick reversal.