- Bitcoin stays above $6,000, but the upside has stalled.
- Litecoin’s founder comes out with encouraging tweets.
Bitcoin is changing hands at $6,150, mostly unchanged since the start of the day. The upside correction from Sunday’s low is losing traction on approach to technically important levels. Obviously, the market is in desperate need of some positive news, that will serve as a signal for hibernating crypto bulls.
Meanwhile, crypto bulls struggle to calm down speculative panic on the market by reminding traders and investors that Bitcoin has a history of deep corrections and even downside trends, but in the longer-term perspective it is still a viable investment and revolutionary concept.
“I have not seen so much hate towards one another on crypto Twitter since I first started tweeting. I realize the bear is giving us a beating, but this is what makes us stronger in the long run. And this is what “blood in the streets” look like,” Charlie Lee wrote in his Twitter account
Bitcoin technical picture
BTC/USD stays above 50-SMA (hourly chart) at $6,069. If it is broken. the downside may be extended to the psychological $6,000 and to $5,777, which is Sunday’s low. On the upside, the short0term resistance comes at $6,269 (100-SMA, hourly chart), followed by upper line created by Andrew’s pitchfork, currently seated at $6,400.
BTC/USD, hourly chart
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