Looking at the chart, we're back at that critical zone for BTC, a strong bounce around this area should see us safe for a little longer, but BTC is very shaky right now and the last few days of trading have been erratic.
One person I saw mentioned that the charts looked more like an "alt coin pump-n-dump" than organic trading.
Regardless of what is happening, I feel that if we get below the 8k range it will fall down very easily as there isn't much confidence or buyer support (see VPVR on the right).
Interestingly, there isn't much fear or negative sentiment/press out there right now except for the Google crypto ad ban which is probably similar in impact to the FB ban from a little while ago, other news:
Coinbase Receives E-Money License from UK Financial Regulator
Binance Will Open a Decentralized Exchange
What I do know, is that the longer we linger around the $8k range, the more fear starts to seep into the minds of investors and the more likely it is to fall over as a result of that fear and panic.
We'll see.
One person I saw mentioned that the charts looked more like an "alt coin pump-n-dump" than organic trading.
Regardless of what is happening, I feel that if we get below the 8k range it will fall down very easily as there isn't much confidence or buyer support (see VPVR on the right).
Interestingly, there isn't much fear or negative sentiment/press out there right now except for the Google crypto ad ban which is probably similar in impact to the FB ban from a little while ago, other news:
Coinbase Receives E-Money License from UK Financial Regulator
Binance Will Open a Decentralized Exchange
What I do know, is that the longer we linger around the $8k range, the more fear starts to seep into the minds of investors and the more likely it is to fall over as a result of that fear and panic.
We'll see.