RATE Group | Bitcoin (BTC) Flash Dumps to $11,400, Down 3% Today — EWN
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Bitcoin (BTC) Flash Dumps to $11,400, Down 3% Today — EWN

10 Aug Bitcoin (BTC) Flash Dumps to $11,400, Down 3% Today — EWN

Posted at 17:23h in Bitcoin News by

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Bitcoin Sheds $500 in Minutes

Bart Simpson is back. The chart of Bitcoin (BTC) resembles the hair of the titular “The Simpsons” after it shed $500 within minutes, losing the support of the $11,800 level.

After tapping $11,200 — or even $11,100 on some exchanges — Bitcoin has somewhat stabilized, returning to $11,400.

This dramatic sell-off caught many traders with their pants down, as some were expecting the cryptocurrency market to continue its move higher. But alas, this wasn’t the case, as made evident by the chart below.

Bitcoin (BTC) Flash Dumps to $11,400, Down 3% Today 1

Despite the clear loss of the $11,800 support level, which has acted as a pivot point for both bulls and bears over recent weeks, there are some keeping their heads up high.

Analyst BigChonis recently made it clear that until Bitcoin closes a six-hour candle under $11,000, bulls should have no worries. Indeed, as he outlined below, that level could be “make or break” for BTC in the near future.

Also, technicals still seem to suggest a bullish trend, at…

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