Bitcoin Price Is Still Vulnerable: Trading Expert

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Wed, 06/05/2019 - 17:40
Alex Dovbnya
📈 💪Another Bitcoin price downturn could be a major buying opportunity since we are in a bull market🐂 💱
Cover image via U.Today

Trading expert Alex Krüger claims that Bitcoin price is still vulnerable as it’s struggling to gain more steam after an exhausted price.

According to Krüger, it is worth opening a long position once the Bitcoin price breaks above the $7,900 level, which would put the “crypto king” back on track.  

He determined that $7,600 would be the coin’s nearest support level. If it plunges below this price mark, it opens the door for a slew of further pullbacks, which could eventually send the BTC price back to $6,400 (the most traded price of 2018).  

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As reported by U.Today, Krüger previously stated that Bitcoin going above $6,400 would confirm the next bull market. Indeed, since breaching this psychologically important mark, BTC continued its meteoric rise to $9,000.

Despite the recent downturn, Krüger sticks to a bullish scenario, alleging that he would start buying bags of BTC once its price drops below the $6,800 area.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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