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• Bitcoin resumes selling pressure after facing strong rejection at $6600 resistance
• The next price target for Bitcoin is located at $6000.
After opening short for the new month, Bitcoin lost 3.49% today to reach a current daily low of $6170 mark. As of now, the price is trading around $6200 against the US Dollar. The price is still in a downtrend. We can expect more sell actions as long as bears continue to gain control of the market.
Príomhleibhéil friotaíochta: $ 6300, $ 6550, $ 6900
Príomhleibhéil tacaíochta: $ 6000, $ 5677, $ 5200
Anailís Praghais Bitcoin (BTC): Cairt 4H - Bearish
Today, Bitcoin lost the $6300 support following a sell from $6600 yesterday. As can be seen on the price chart, Bitcoin is revealed in a downward range, charging towards a big demand area of $5677, which is marked green on the price chart. Along the way, BTC is likely to encounter support around $6000.
If the mentioned supports fail to contain selling pressure, a drop below the green area could send price straight to $5200. On the upside, Bitcoin is holding resistance at $6300 and $6600 – the current weekly high. If Bitcoin can regain momentum above these resistance levels, the next buying target would be $6900, where the red line lies.
Anailís Praghais Bitcoin (BTC): Cairt in aghaidh na huaire - Bearish
Bitcoin is moving in a downward trend on the hourly chart. The past 7 days drop was subsequently followed by multiple rejections from the yellow spot of $6900, $6800 and $6600 resistance. More so, the price is similarly respecting the orange regression line.
Bitcoin is currently facing a key price level of $6050, where the green demand area lies. If this demand area provides a strong rebound level, Bitcoin could recover back to $6300 level. From here, the bulls may have an opportunity to reclaim the $6500 – $6600 resistance. However, Bitcoin could sell heavily at $5880 (yesterday’s low) if the demand area fails to hold.
ORD DÍOL BITCOIN
Ceannaigh: $ 6222
TP: $ 6057
SL: $ 6322
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