- Steve Wozniak referred to Bitcoin “just amazing” while appearing on CNBC.
- The Bulls are not that powerless either, they have managed to sustain the price above $6,000.
Bitcoin price is trading within the upper channel of Andrews Pitchfork with the base at $9,859 traded on March 12 while the upper pitch is at $9,894 traded on May 5 and the lower pitch is at $6,428 traded on April 1. After breaking the former support at $6,800 and $6,400, BTC/USD has been capped below $6,320. The digital asset succumbed to selling pressure below $6,000 and recorded lows of $5,777.
Apple’s founder Steve Wozniak while in the NEX technology conference held in New York shared his thoughts on the centuries most talked about technology, blockchain. Wozniak believes that blockchain technology is a ‘Bubble,’ but he still says Bitcoin is “Just Amazing.” Wozniak compares the blockchain to the dotcom era but adds that it is “decentralized and totally trustworthy.” He noted that the potential of blockchain will “take a while” to be realized. Wozniak also added that:
“It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”
Earlier in the month, Steve Wozniak referred to Bitcoin “just amazing” while appearing on CNBC. Similarly, he is reported to have called Bitcoin “pure digital gold.”
Bitcoin technical picture
Bitcoin price is trading below the moving averages on the 4-hour chart. The gap between the 50 SMA and the 100 SMA is currently widening to show that the sellers have the control. The stochastic RSI on the same chart is in the oversold territory signaling that selling activity will continue in the near-term. The Bulls are not that powerless either, they have managed to sustain the price above $6,000 since the start of the session despite the rising bear pressure. BTC/USD must overcome the selling pressure at $6,200 and $6,320 in order to gain enough momentum to recoil towards the key resistance at $6,400.
BTC/USD 4-hour chart
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