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Bitcoin Price Is Still Vulnerable: Trading Expert

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Wed, 5/06/2019 - 17:40
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Bitcoin Price Is Still Vulnerable: Trading Expert
Cover image via U.Today
Read U.TODAY on
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Trading expert Alex Krüger claims that Bitcoin price is still vulnerable as it’s struggling to gain more steam after an exhausted price.

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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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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