The price of bitcoin after the recent rally to $ 8,000 over the past few days has fallen significantly. At the time of writing, the main crypto currency is $ 7457. Over the past day, it lost in price 3.9%, and for the week – 6.9%.
Robert Slimer, head of technical strategy at Fundstrat, recently visited Futures Now on CNBC. He was invited to share his opinion about the cost of bitcoin. Robert believes that the price of the main crypto currency will now fall, he marked a mark of $ 6000, which, in his opinion, is now seeking.
Slimer mentioned that it is quite difficult to trade bitcoin, given the fact that he is currently at the “moment of truth”. He said:
“Trading [bitcoin] is quite difficult. We believe that now it is at the moment of truth, the price chart for today behaved quite dynamically. Because of this, one can not help recalling the last quarter of last year, when the price behaved as well. I note that short-term trends are no less important than long-term, especially contrasting weekly trends. “
He said that, basically, he uses a 50-day moving average for analysis. Fundstrat made a prediction, based on such an analysis, according to which, bitcoin first reaches $ 6000 and only then begins active growth.
“I think that bitcoin is now in a critical situation. If the bull trend continues, then only after a noticeable descent. “
Slimer explained that in the near future there will be no descent, since the trend, which shows him a 50-day moving average, is now more or less bullish. However, the price is vulnerable enough and can fall to $ 6000 at the most unexpected moment.
He also gave advice to traders:
“When this level is reached – buy. Some part is recommended to sell in the area from $ 7,400 to $ 7,455. We are definitely waiting for a powerful rebound. “