Bitcoin Suffers Enormous Drop After Breaking $12,000 – BeInCrypto

Bitcoin Suffers Enormous Drop After Breaking ,000 – BeInCrypto

  • -Bitcoin is facing long-term resistance at $11,500.
  • -The trend has shown considerable weakness in the daily time-frame.
  • -The price has likely begun an A-B-C correction.
The Bitcoin (BTC) price created a massive bearish engulfing candlestick on August 2, possibly indicating that the upward move has ended and a corrective period awaits. The long-term movement, however, still looks healthy. Bitcoin Fails to Close Above Long-Term Resistance During the week of July 27-August 3, the Bitcoin price increased considerably, going from a low of $9,917 to a high


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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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