For the first time in the Community App history, the community accuracy is below 50%!
Current support / resistance: $7'000 / $7'400
While the price of Bitcoin is approaching $7'000, the number of long positions is still increasing sharply on some trading platforms. On Bitfinex, we even reached a record today. This indicates a bullish sentiment but there is a significant risk, indeed if the price falls, it is likely that these positions will be liquidated and cause strong selling pressure which would accelerate the price drop. In terms of technical indicators, we are still in a bear market and the price is below the 20-day moving average.
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