Bitcoin fell below 73,000 dollars for the first time since August, and this is now a three month low. ⚠️
CoinDesk reports Bitcoin lost 73,000 dollars for the first time since 20 August, its weakest level in almost three months, after October CPI came in at 0.4 percent against a 0.3 percent forecast, with core CPI at 0.3 percent against 0.2 percent expected. 📰 CoinMarketCap puts the low at 73,543 dollars in its early reading and notes Bitcoin is only about 400 dollars above its 200 day moving average, while news.bitcoin.com records the deeper intraday low of 72,787 dollars on Bitstamp data. My reading is that the market had already warned 73,000 dollars was the key level, because analysts flagged it before the print as the line that could speed up selling, and the hot number gave sellers exactly the excuse they needed.
Is this the start of a move toward 70,000 dollars, or a washout before buyers step back in? 🤔
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinCrash
CoinDesk reports Bitcoin lost 73,000 dollars for the first time since 20 August, its weakest level in almost three months, after October CPI came in at 0.4 percent against a 0.3 percent forecast, with core CPI at 0.3 percent against 0.2 percent expected. 📰 CoinMarketCap puts the low at 73,543 dollars in its early reading and notes Bitcoin is only about 400 dollars above its 200 day moving average, while news.bitcoin.com records the deeper intraday low of 72,787 dollars on Bitstamp data. My reading is that the market had already warned 73,000 dollars was the key level, because analysts flagged it before the print as the line that could speed up selling, and the hot number gave sellers exactly the excuse they needed.
Is this the start of a move toward 70,000 dollars, or a washout before buyers step back in? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinCrash
