Hey steemian friends how are you???
Hope you are preparing for weekend . But those who have taken position in bitcoin at 8400 level I think they are in trapped and tensed may be have tight depressed life. Good week ends means nothing but jokes at that time of their life..
Anyways lets move on to the topics ... yes You hear right bitcoin crashed ~700 points from recently made high from $8482.84 level
After getting details and and making a deep technical analysis we have found that- ***Profit booking *** is the main issue for crashing 695.55 points from fresh high made after two month down trends!!
People are booked their profit at that top point as bitcoin was in down trend and stayed a sides ways still two months from few days ago.. bitcoin bull run started when 16-july - 2018 making a high postie volume followed by 17th July trading session where we had witnessed lots of positive buying was seen and alarm of next bull run of BITCOIN* has already been started!!!
The major cause was A news That was claimed that ETF will be approved in SEC , that was the game changer news ...
So those who were entered into position at lower level they cutted their position at TOP and which result
makes Bitcoin crashed nearly equal to 700 points as of now.
Now lets make some prediction for future move...
According to Golden Fibonacy level it will may touch or test at least 61.8% level which is $7553.54 level
which also near 100DMA strong support.
As of now while making this Blog we have found that BTC still going down sides and trading at 7820 level!!!!
now it is big question for us how much point it will made correction at that time ???? is it 61.8% level means 7553 level or lowe.. please give your feedback guys.....
