Earlier today, the flagship cryptocurrency attempted to break the $6,900 level but failed and made a rebound. After rising a little after that, BTC is now trading at $6,620.
‘$4,800 to be tested in the coming period’
Analyst Michael van de Poppe believes that BTC can still remain in the current area for a while. He assumes that Bitcoin could tap the $7,000 zone once again. However, he tweets that Bitcoin will more likely decline to test first $5,400 and then $4,800.
‘Bitcoin halving is in two months, BTC will shine again soon’
Trader ‘Satoshi Flipper’ reminds the community about the approaching Bitcoin halvening. He says that half-a-year after it, long-term BTC investors will look at price levels below $8,000 as a gift and adds that Bitcoin is going to shine again soon.
“Fuck shorting this strength bro, bottom is in and $BTC will soon shine again :)”
Trader CryptoDude’s take is that breaking above $7,000 will allow Bitcoin to continue its bullish trend. Until it happens, he says, BTC is likely to retest lower levels.
“$BTC Trying it's best to reclaim the previous lows. Close above 7k bulls should be back on track. Until then the argument for a bearish retest here is strong. Flat.”