Bitcoin Is Trading At Most Crucial Support Level Of 2018 | Will It Bounce Or Fall?
Bitcoin has turned out to be the complete nightmare for every long-term investor in recent few months. Bitcoin hasn't seen a healthy Bullish run in a while and currently trading at $6000 which is the most crucial support level of 2018. Every eye is on Bitcoin right now, tracking its movements.
So, what's it gonna be? Will it fall or bounce from here?
Well, this is a question of which only time knows the correct answer. Though, we can have a very good look at the chart to know all the possible scenarios:
As you can see in the chart above. Bitcoin is trading in early $6000 and tried to break this support twice today. Also, Bitcoin has tested $6150 as well but rejected from there showing the power of Bears.
- Volume has dropped since Bitcoin fell from $6300 to $5850.
- If Bitcoin moves up from here, the first resistance level would be $ 6195 and then $6300, overcoming all these resistance will take Bitcoin under $6550 which has become a solid resistance lately.
- On the downside, If Bitcoin moves down from here, the first level of support would be $5800 and if it breaks, Bitcoin might free fall into early $5000 level.
- So, keep your trade short, take profits and always use stop-loss.
Thanks for reading..!!
