The bitcoin price is crashing. Will the next support hold?
Current support / resistance: $7'000 / $8'000
As feared, the support discussed yesterday did not hold and the price collapsed in a few hours to test the next support at $7'000. This break is a school case in terms of breaking down. Volumes have not necessarily exploded, but selling pressure is very strong with indicators in the red as in previous days. After nearly 10 days in the red, it is expected to stabilize. However, the current support is not necessarily strong enough, so it is likely to see the price test the $6'500 key level if a buying pressure does not start in the next few days. The entire market has fallen below 200 billion dollars in total market capitalization. A level not seen since May.
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