Bitcoin (BTC) Price Rejected at $6,900 Resistance, $4,800 Is New Target

Bitcoin (BTC) Price Rejected at $6,900 Resistance, $4,800 Is New Target

By Tokenhell.com | Tokenhell | 26 Mar 2020


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.

Also Read: Binance Charity Foundation Starts a Global Charity Campaign “Crypto Against COVID” to Combat Pandemic

‘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.

Also Read: Vitalik Buterin Advocates Trustless and Serverless BTC-ETH Swaps

“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.”

Also Read: Binance CEO Explains Why Bitcoin (BTC) Price Can Easily Reach $100,000

 


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Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

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