Bitcoin's price today (March 15th) was identical two days ago at around $56,600. Is India going to permanently ban Bitcoin just like what China did?
This might be the reason of a sudden a plunge of the crypto's price. But then it quickly recovers from $54k in less than 24 hours.
There is obviously a loss of confidence going on among the Bitcoin investors following India's announcement.
Take a look at this 24-hour chart below:
Bitcoin price today, in the Binance charts is at $56,202 with a sudden decrease of -6.14%.
The trading volume is $5,598,541,456.19 which is a billion higher than 2 days ago.
The 4-hour chart:
My trading signal:
BUY START: 56,167
STOP LOSS: 54,846
TAKE PROFIT: 59,651
DURATION: at least 24 hours
So, is this an indication of a rubber stretch like that of a slingshot? Well, I believe so. Be careful and do not blink!
Share your thoughts.