Published on September 16th, 2017 | by bitcoin0
Cryptocurrency Price Analysis for September 15
No, because after the initial selling subsides, aggressive bulls will start buying at important support levels.
Should we also join the early buyers or should we wait for more confirmation before initiating long positions?
Bitcoin has completed a 61.8 percent Fibonacci retracement of the rally from $1,752 to $4,975.
Aggressive buyers have taken advantage of the sharp fall and have initiated long positions close to $2,970 levels, which is a crucial support.
Nevertheless, it is unlikely that Bitcoin will quickly rally $5,000 levels because the bears will again short at higher levels.