- Bitcoin price on Thursday is torn apart, an absolute bloodshed, after further selling came through the $7000 mark.
- BTC/USD has broken major support, which opened the door to large selling from bears.
- Chunky volume was seen from $6700 down to the low around $6300, in the very early hours of Thursday.
The Bitcoin price has seriously harmed on Thursday, seen nursing losses of %, this comes after the initial selling being triggered during Wednesday’s session. Markets sparked panic, following newswires reporting Goldman Sachs are to halt crypto desk plans.
BTC/USD is currently ranging after the heavy selling pressure, nothing out of the normal with this current price behaviour. The danger is with this movement being observed, Bitcoin could be moving towards another free-fall south.
Technically, the key support was seen at the psychological $7000 level, then a demand area of $6800 was broken. The clearance of the latter saw a huge spike in volume, when the price fell from $68700 down to the low of around $6300. Given the recent moves, BTC/USD is exposed to another potential retest of $5800 territory, low seen on 14th August and 29th June.
BTC/USD 60-minute chart
Share
