Read the success stories of crypto entrepreneurs.

Discussions are fun when we are part of a community.
Login Free Registration

Get 10 AltcoinN Points just by registering on this forums.

Bitcoin Saw a “Mega Rejection” at $9,200, And It Should be Worrisome for Bulls.

Over the past few days, Bitcoin (BTC) has stalled, finding itself between a rock and a hard place. Many analysts are currently undecided where the cryptocurrency will go in the next few weeks, though one top trader recently noted that BTC’s price action at $9,200 could be a precursor to more downside.

How Bearish Is Bitcoin’s Rejection at $9,200?

In the wake of Bitcoin’s flash crash at $9,200 last week, Haejin noted that this represented a “mega rejection” on a daily basis. He specifically looked to the fact that BTC saw a bearish retest of the 200-day moving average, collapsed out of a multi-week rising wedge, and failed to surmount key macro resistance — three signs showing bears remain decisively in control.


Possibly Related Threads…
Thread Author Replies Views Last Post
  Bitcoin Exchange Script zaarahary 0 30 09-15-2020, 12:48 PM
Last Post: zaarahary
  Top-Notch bitcoin future trading software riyasteve 0 141 06-25-2020, 12:09 PM
Last Post: riyasteve
  What does Bitcoin provide over PayPal? frankbobo 0 167 06-20-2020, 08:34 PM
Last Post: frankbobo
  Bitcoin margin trading in USA riyasteve 0 196 05-26-2020, 10:55 AM
Last Post: riyasteve
  18 of the Coolest Visualizations for Exploring the Bitcoin Network Alhajiduba 0 229 03-25-2020, 06:10 PM
Last Post: Alhajiduba