Bitcoin Dropped Again! What Analysts Say


The cryptocurrency market was still very active last night. Bitcoin price started to rise yesterday evening and rose to $ 7 thousand 200. Bitcoin, which has hovered above $ 7,000 for a while, started to rapidly depreciate in the coming hours.

Bitcoin started to drop rapidly especially in the morning and declined to 6 thousand 600 dollars. Bitcoin is currently hovering at $ 6,700, and analysts think the BTC price may drop for a while.

Important Levels
With the price of Bitcoin falling to $ 6 thousand 700, analysts seem to agree on certain issues. One of these issues is the support points.

When we look at the graphics of the domestic crypto commentators, we can see that especially the level of 6 thousand 600 dollars stands out. Dr. On a chart he shared the other day, Hardfork pointed out the support of $ 6,500 and mentioned that this level should not be “broken”.

Dr. Crypto Kemal shared a chart a few hours before Hardfork shared this chart. Crypto Kemal, who emphasizes the level of 6 thousand 600 dollars like Hardfork, thinks that the level of 6 thousand 200 dollars should be paid attention. Because now under $ 6,500 support lies here.

Where is the next stop?
Currently, many are predicting that the price of Bitcoin will drop. Of course, there were moments when these predictions went wrong recently. However, if these estimates are correct, it can be said that Bitcoin will test 6 thousand 600 and then 6 thousand 200 dollars.

According to the estimates of Josh Rager, if Bitcoin falls below $ 6 thousand 650, this support will be broken and the next support will be $ 6 thousand 200.

See Also
Rising Demand for Gold Becomes Bullish Signal for Bitcoin

If the price of Bitcoin loses a few hundred dollars in the coming hours or days and declines to 6 thousand 200 dollars, we can see that the price drops further. Altcoinrookie draws attention to the level of 5,800 dollars for a long time. He drew attention especially to the levels of 6 thousand 200 and 5 thousand 800 in the graphic he prepared yesterday.


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