Bitcoin Just Got Rejected at $8,400, And It Means a Big Fall Ahead

Bitcoin is showing first signs of a weakening upside momentum as traders adjust their sentiments near key resistance areas.

The benchmark asset on Wednesday plunged by up to 3.15 percent in what appears to be a corrective action. The move downhill prompted it to establish an intraday low of $8,202.57 on Coinbase. It also escalated the possibilities of an extended downside action as the market heads into a perceivably relaxed US session.

So it appears, investors are betting that the Iranian missile attacks on American stations in Iraq would not extend the conflict in the Middle East. The perception alone helped oil prices and global stock markets stabilize. Investors now await President Donald Trump’s statement on the matter after his “all is well” comment last night.

All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now. So far, so good! We have the most powerful and well equipped military anywhere in…