It seems that bulls can’t catch a break. Bitcoin just minutes ago tapped $8,000 (per data from trading view), bringing its 36-hour performance to a dismal -13%, having peaked at $9,200 on Saturday.
This latest leg lower comes after the cryptocurrency attempted to stabilize above $8,300 ahead of the weekly close, though this was done to no avail.
With this move, Bitcoin has entered key bounce territory; analyst CryptoHamster noted that with the recent move lower, the price of the leading cryptocurrency has tapped the bottom of a descending channel the asset has traded in since the $10,600 peak seen in mid-February. The cryptocurrency falling below the support could open the door for a stronger drop.
Congratulations @nuk2! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!