Bitcoin is dropping right now after a big Chinese exchange announces closure – Virabit News » Bitcoin is dropping right now after a big Chinese exchange announces closure

Bitcoin is dropping right now after a big Chinese exchange announces closure

Admin Sep 14,2017

Bitcoin price plunge for the pass several days. Bitcoin prices fell about 7 percent on Thursday after one of the biggest exchanges in China said it will shut down its operation.

btcchina close its operation

This is negative sentiment from China however if we see the chart technically Fibonacci 50% retracement is at about $ 3500 which is in my opinion is the best time to buy 50% of your fund. If the price continue falling in the several days ahead I will buy my 50% fund when the price touch 61.8% retracement at about  $3000.

If the price keep dropping below $3000 I will just relax in believe that this is temporary setback.

bitcoin correction

Happy trading and relax, don’t daytrading, just buy and hold until your investment profitable. Happy trading.

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