Bears are trying to break the uptrend. Bitcoin is testing support for $18 000

In the morning 8 December the Bitcoin course went down from the triangle formed in the last days. Now BTC is testing $18 000 and medium -term trend line.

This morning, the price of bitcoin fell from $ 18,770 to $ 18 031. Then Bitcoin continued the fall and for a short time reached daily minimum on $17 640. Now the BTC is trading
near the level $18 000, However, volatility is preserved. "Bears" are actively trying to withdraw the price from the rising channel, emerging from the beginning of October. Looks like, that the third attempt to storm $20 000 Set aside.

Source: Tradingview

The last time BTC experienced a similar fall
1 December, After the cryptocurrency tried to update the historical maximum, exceeding $19 900 On some exchanges. After that, the price of BTC collapsed briefly to $18 200.

According to CRYPTOQUANT CEO Ki Yong Ju (Ki Young Ju), accessibility of significant volumes of BTC on exchanges, provided by "whales", contributed to a drop in prices.

“When it comes to short -term price forecasting, I think, that the most important data – supply and demand", – Said Ki Yong Ju. "I think, that this fall began with whales, who wanted to leave their bitcoins on exchanges, Having made them accessible to orders for sale ".

According to the head of the growth department of the decentralized Tokenlon Exchange Lucas Juan (Lucas Huang), From the point of view of retail trade, “Raising BTC increased 80% In just two months it can be too tempting profit, so as not to fix it ".

The prices of other large cryptocurrencies were also affected. According to Coinmarketcap, XRP demonstrated a decrease in 12% per day, ETH – на 6%, LTC - on 8%, And BCH has decreased 5%.