Bitcoin price broke below $7000, falling 6% since our bearish call in the previous issue. The possibility for further downward continuation towards the $6400 support level still remains valid.
The tightening range and declining volume on the daily chart presents a sign that bitcoin is consolidating and getting ready for its next big move. If the breakout plays in favor of the bulls, BTC will probably test the resistance level at around $7850.
The tightening range and declining volume on the daily chart presents a sign that bitcoin is consolidating and getting ready for its next big move. If the breakout plays in favor of the bulls, BTC will probably test the resistance level at around $7850.