Cryptocurrency drops further, making fresh lows, with no signs of the positive upside move.
Bitcoin continues to fluctuate in a slightly bearish trend, making fresh one-month lows. As we mentioned in our previous report, the BUY signal established a few days ago haven’t developed further, and new SELL signal was formed by crossing MACD below the zero line. Currently, BTC is traded below $8,500 and we need to see the price reversal up to the 38% Fibonacci retracement level of the current decline from the $9,940 high to the $8,050 low.
We continue to stay out of the market.
Previous Day Close = $8,368
All-Time High = $20,089 on December 17th, 2017
Current Drawdown from ATH = -58%
Trailing 12 Months Return = 385%
Year-To-Day Return = -41%