Re: Reversal of Bear Market?

Bitcoin has been stable a little above $5000 and many efforts has been made by the bear to push it back and kept it below that level but there couldn't do that. The market is growing and I strongly believe that very soon it will be heading towards $6000.

yes it's true that bitcoin has held up well since it reached 5,000 but I think the next support (5,800-6,000) is decisive for the future

Next stage should be at 5300-5400$, if resistance level won`t be overcome then long-term investors may see quite frightening situation. Several organizations may fix their profit and it can lead to falling even to 4500-4700$ mark. Also launching a new platform Bakkt may affect, it can attract new big players from USA and force Bitcoin to rise.

Yes sir but I wanted to say that support is $ 6,000 and not easy to surpass, (but it's just my opinion and I'm here to learn Grin

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I think the $6,000 that you are talking about is called resistance and not support. Support is the lower price from the current price while Resistance is higher than the current price. Yes, resistances are hard to surpass because there is a huge wall of orders there but once it breaks then the run of bulls will continue.