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
Bearish, time to read my blogs ;-)
Hope so
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Great update
Nothing is bearish
Whales manipulate the market
Thats true ... but whales are only going to repurchase when bitcoin in low
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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 $8000 mark again.
hope for the best, i think it will recover soon, n bulls are gonna rocket the btc prices
No worries it will grow back happy for it
bitcoin will go up soon in 1 or 2 months for sure and it stay on 10,000$ again
It have to
Whales are just manupalating and making panic in market to sell Bitcoin.and they can enter in low rate.bitcoin is future so no need to worry.
This is very normal in a trading market. Whales are playing with a newbie to exit in these short rates and get panicked. Btc will see a great pump in coming days .
Right now we are still in bearish movement
Let it drop as much it wants to, because it will rise again more than it ever had.
Market cap of 259 million bitcoin is at 6288$ 😑
Rn
Good stuff shared :)
Market will stable soon, whales are creating this fud.never panic.bitcoin is future.