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RE: $6700 broken! next stop under $5000

in #bitcoin6 years ago

It will not be above 10K until it bottoms lower and makes a new 2018 low. The rejection was clear
Look at the chart
For last 12 months

Keeps following same pattern in this bear market . Lower highs and lower lows. Let me be clear I’m not saying long term bitcoin is done! I’m simply talking short to mid term

F871E115-207B-413C-832B-6FBCA46238F8.jpeg

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This consolidation period has about run its course. You might get it a little cheaper here but in the big picture these levels represent a nice value entry. The selling has been "rejected" as much as the buying has. $6k to 7k range is pretty solid base forming. Getting much below that is hopeful thinking, but unlikely. All the best!