Bitcoin formed a reversed V-shape pattern from the daily K-Line as it went upward and downward. Yesterday, the sharp price decline lead a long column below the opening price. This opens the conclusion that the volume of short-selling was large to be noticed.

However, at present many investors are taking the price advantage to long the coins so that the trading volume starts to increase. Seen from the MA and MACD lines, the price has crossed below the MA and gradually moved away from it. MACD column is also below the zero axis.

In other news, Ethereum also broke through the shock range and plummeted yesterday.

Source Date: August 9, 2018