Bitcoin has been pushing the range of 6,500-6,600 dollars for a few days but it has not been successful yet. It is possible that the Bitcoin price, which is currently around $ 6 thousand 200, will experience a sharp decline in the coming days.
Target 5 thousand 200
AltcoinRookie, one of the domestic crypto commentators, shared his views on the price of Bitcoin. Stating that he expects a further decrease in price, Rookie especially pointed to the level of 5,200 dollars.
Explaining why he thinks so with the graphic he shared on social media, Rookie emphasized a few points. Stating that the volume started to decrease firstly, Rookie said that “bears are more appetite” in the market now.
Bitcoin has been receiving support at $ 5,800 for a while. It should be noted, however, that BTC has already tested this support twice. Considering that the support and resistance points are getting weaker with each test, it may be possible that BTC will come under this support in the next fall. According to Rookie, if such a scenario is experienced, there may be up to 5,200 dollars of price.
The Last Fall?
Although Rookie says BTC can drop to $ 5,200, it seems that an increase is expected after this drop.
It is quite difficult to predict exactly which direction the bitcoin price will move. However, Rookie says the price will not drop below $ 5,200 and will invest at this point.