Re: When will the price of Bitcoin break below the $6,000 support level?
If you look at the chart of the Bitcoin price, it has formed a clear descending triangle with support at about $6000. Resistance is keeping the peak of each bullish run lower than the previous one for the past few months. If I can find a good chart to post, I'll add it in later.
I believe that this is a bearish signal that the price could likely break below $6000 soon.
Do you agree and if so, when do you think it will drop below that key support level?
How soon is soon?I believe that this is a bearish signal that the price could likely break below $6000 soon.
Do you agree and if so, when do you think it will drop below that key support level?
The truth remains that predictions around the price of bitcoin have always beaten everyone hallow till date. It hasn't ever been predicted right and I am not perturbed with what anyone says. Yes, price may be trading low now but a break up trend could still occur especially as everyone awaits the outcome of the ETF this September.
Bitcoin doesn't need an ETF. If more rejections by the SEC come, then who cares. Bitcoin will always recover, and every weak hand who let go of their coins will regret it. But what can we do. Weak hands buy high and sell low as a default. Hahaha.
OP, no one knows. But if it does, buy the dip!
