Published on August 3rd, 2018 | by bitcoin0
Bitcoin wants short term bear market
Bitcoin’s (BTC) price pullback from the recent highs above $8,500 is increasingly looking like a short-term bear market on the technical charts.
At press time, BTC has found acceptance below the key support of $7,455 and has retraced 40 percent of the rally from $5,755 to $8,507.
What’s more, the cryptocurrency also closed yesterday below the former resistance-turned-support of the 100-day moving average (MA).
As a result, BTC appears to have entered a short-term bear market.
Join 10,000+ traders who come to us to be their eyes on the charts, providing all that’s hot and not in the crypto markets.