Will the last support before the $6'000 region hold?
Current support / resistance: $6'800 / $7'000
The price of Bitcoin has fallen below the psychological threshold of $7'000 to test the key support of $6'800. The next few days will be critical for the price of bitcoin in the medium term. Indeed, if the price does not hold at this level, it is likely to see a significant drop in the price as traders have long positions that risk being liquidated. In addition, we would see the price of Bitcoin reach its lowest level in 1 year. To hope for a recovery of a bullish movement, the price must hold at the current level and hope for consolidation in the coming weeks. The market as a whole has lost nearly 10 billion over the last 7 days. Apart from Tezos, the major altcoins are in the red.