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Bitcoin (BTC) Price Analysis

03 Sep Bitcoin (BTC) Price Analysis

Posted at 02:43h in Bitcoin News by

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Regardless of the sentiment and interpretation of the 10,000 BTC short position of Sep 1, prices seem to be bottoming out. At current prices, BTC is up an impressive nine percent in the last week and two percent in the last 24 hours. We expect coin specific fundamentals to prop prices going forward. As such, placing longs on every pull back in line with last week’s gains will be trading with the market keen on edging towards $10,000.

From the News

The Bitcoin market is in limbo on whether to short or buy in direction of the “new found bull momentum”. It all had to do with that massive 10,000 BTC short position of Sep 1 and while prices did rise soar, it also syncing perfectly with aftermath of previous short positions of Q2 and 3 2018. Time and time again, it has been shown that prices temporarily rally in a perfect short squeeze before tumbling in later sessions as bulls are overwhelmed by strong wave of sellers. When we take a look at Bitcoin prices, prices are rising…

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