2018-10-16 19:17 |
Bitcoin Witnesses Last Dip Before Price Hike to Come
A CCN report took a look at the different prices Bitcoin (BTC) took recently. The conclusion they have arrived to, that is under assumption, is that the giant has finally touched based on its lowest price, $6,150 (October 15). The case made here is that the drop was supported by a price hike to $6,750, which is very close to its resistance point of $6,800 – allowing for a new resistance point to be formed.
The report indicated that traders hold a firm stance that $6,150 is the last dip and that BTC is surely to go up in value in the time to come. This is definitely something everyone has been eagerly waiting for, given BTC’s price floating around the $6,000 ranges for far too long.
The validity behind this claim has been supported by technical analyst and crypto trader, AngeloBTC’s findings, who has since tweeted the following:
https://twitter.com/AngeloBTC/status/1051710824388030464
The tweet was published on Sunday, October 14 and has since gained 3,917 likes with over 1,086 retweets. There seems to be a mix of emotions in the comments, with many supporting the trader and very few still wondering the validity behind said claims.
As for how BTC managed to surpass $6,000, it has been revealed that those taking short positions contributed to its sudden growth. Another facet that seems to back up the argument of last dip is BTC’s increased volume, which has since gone up by $2 billion.
Therefore, there seems to be promise for some short-term gains, but whether we will see long term gains only depends on the number of resistance levels Bitcoin breaks free from.
Are you convinced that BTC has experienced its last ever dip of 2018? Will BTC prices finally skyrocket? Let us know in the comments below.
origin »Bitcoin price in Telegram @btc_price_every_hour
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