Bitcoin Retraces Slightly After Suffering Sharp Drop – BeInCrypto

Bitcoin Retraces Slightly After Suffering Sharp Drop – BeInCrypto

  • -Bitcoin has been retracing since the downward move on August 2.
  • -The price has reached the 0.618 Fib level of the decrease.
  • -BTC is possibly trading inside a short-term ascending parallel channel.
The Bitcoin (BTC) price decreased considerably on August 2, creating a very significant bearish engulfing candlestick. The price has been increasing since, but the move is more akin to a retracement as a result of the decrease rather than the beginning of a new upward trend. Bitcoin Retracing On August 2, the Bitcoin price created a bearish engulfing candlestick that reached a close

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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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