Bitcoin Recovery Stalls Raising Risk of Price Drop
Bitcoin (BTC) is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears.
The cryptocurrency found acceptance above the key resistance of $6,425 (April 1 low) in the second half of last week, raising the prospects of a corrective rally towards the $7,000 mark.
Further, while a fall to $6,000 following a bear flag breakdown on Friday seemed likely, losses were unexpectedly cut short at $6,300, signaling bearish exhaustion.
Yet, the leading cryptocurrency did not find any takers over the weekend, leaving trading flat-lined above $6,500.
Courtesy of the drop from $6,573 (Sunday's high) to $6,370 (today's low), the short duration charts have now turned bearish. Meanwhile, the long duration charts continue calling a bearish move.
As of writing, BTC is changing hands at $6,430 on Bitfinex – down 1.3 percent over 24 hours and is looking southwards.
4-hour chart
hope for the best, i think it will recover soon, n bulls are gonna rocket the btc prices
Bearish, time to read my blogs ;-)
Hope so
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Upvoted you:-):-)
Great update
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Hope for a big jump in bitcoin and ethereum price. That make smile on our face.. Hope for the best and believe in your efforts.
that day is also coming
Bitcoin gonna recover soon according to me
Yes it will
Cryptocurrency are going to be future..prices are being manipulated but once institutional funds will start flooding there will be huge in this market and those who already quit from market will jump back in...so be patient
Its totally similar to stocks market
I think price of bitcoin will be high in a month
we also hope so
thanks for this information may be it will be help people to stop loosing their money...
I dont think so
It was mistakenly I missed out some word from my last comment, I hope you will forgive that.
ok
I pray to god that we come out of this bad time of BTC with flying colors.
I'm sure in the upcoming days it will surge & cross the $8000 mark again.