26 September 2018

Overview of the cryptocurrency market. September 26

Trades continue inside the channel $8 300 - $6 200 from BTC. Bulls were given the opportunity to reach the level of $7 000. There was a growth trend. The "bull flag" pattern loomed with a decrease in volumes, most altcoins were at a local minimum. However, the bear didn't like such a possible growth trend, so they decided to intensify the intimidation of buyers by placing large transactions on exchanges. After the intimidated investor sees the next large volumes for sale, he starts selling his assets. Sellers remove these applications later.

Technical analysis confirms the superiority of sellers and the continued pressure on their part so far. Leaving the $6 200 level will increase panic in the market and lower the BTC below $5 000. You need to reach $7 000 To begin the bullish movement.

The fundamental component is also on the side of the bears. The other day there was news that one of the managers of the infamous stock exchange Mt. Gox managed to sell the BTC for a total of $230 million. There is no information on how to sell such a quantity of cryptocurrency.

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