Crypto

When will the declining trend in Bitcoin end?

Bitcoin had a rough break from the 7600 two days ago, and then fell to $ 6,650. The price of number one crypto money has been around 6700-6800 since yesterday.

What do analysts say about Bitcoin's recent situation? Speaking to Forbes, David Johnson, CEO of Latium, "I think that if the downward trend in Bitcoin continues, it will test the psychological level of $ 6,000 and fall to 5800 before finding a support level of 5700-6000 as support channel spacing. 6000 has not historically been a significant level of support for Bitcoin. "

Johnson also noted that if Bitcoin had a bullish upward trend, the situation might be completely different, if Bitcoin had a daily closing of 7100, then a move toward 7700 he said.

ETOR's senior market analyst Mati Greenspan said that if the break continues, the price could go down to 5000.

CoinDesk analyst Omkar Godbole said, "The next wave of resistance We can see a small rally around 7,000 in 48 hours. In a broader view, Bitcoin is likely to test 6,000 in a week or two.

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