Bitcoin bears target $6,400 amid increasing selling activity. The bulls are banking on $6,800 support to hold marking a credible recovery stepping stone. Bitcoin has since Friday last week led the marker in a gain-shuttering exercise. The bubble that investors believed in, that Bitcoin will stay above $8,000 burst and this time, the fall has been massive. The previous support at $7,300 failed to hold leaving $7,000 vulnerable to losses. Bitcoin explored levels below $7,000 over the weekend session to the extent of forming a low at $6,787. The recovery staged above $7,000 was more of a reflex reaction to extreme losses. However, $7,500 remained unconquered. Moreover, BTC is back to trading below $7,000 amid a developing bearish momentum. If the support at $6,800 fails to hold, Bitcoin could plunge lower to $6,400 (a key support during 2018’s downtrend). The gap between the 50 SMA and the 100 SMA continues to increase which suggests a tighter bearish grip. The RSI is stuck in the red (oversold region) and signals that Bitcoin declines are still unstoppable. BTC/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/IDR Technical Analysis: Registers bullish spinning top on weekly chart FX Street 3 years Bitcoin bears target $6,400 amid increasing selling activity. The bulls are banking on $6,800 support to hold marking a credible recovery stepping stone. Bitcoin has since Friday last week led the marker in a gain-shuttering exercise. The bubble that investors believed in, that Bitcoin will stay above $8,000 burst and this time, the fall has been massive. The previous support at $7,300 failed to hold leaving $7,000 vulnerable to losses. Bitcoin explored levels below $7,000 over the weekend session to the extent of forming a low at $6,787. The recovery staged above $7,000 was more of a reflex reaction to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
