BITCOIN ANALYSIS - WILL WE SEE PRICES REACH $6,000?

SUMMARY

Today proved to be another challenging day within the Crypto markets as traders and investors saw the dreaded numbers in red once again. Since price closed below the $7,250 level of support, price has seen a sharp sell off which was expected after such a huge market manipulation that occurred last week.

The 4hr chart shows the huge sell off price has seen seen being rejected at $7,500 earlier in the week. This has proved to be a strong level in the past which could be a contributor to the nature of this sell off. The price could free fall down to the $6,800 region over the coming days as the charts show little to no previous noise between where we are currently trading and the $6,800 level.

The $6,000 level could be achieved over the next few weeks or months. The only major support price will find before then will be found at $6,800, creating this scenario very possible. I have my sights set on price falling as low as $6,000 before we see any relief.

Where will price end up this week? I would love to hear your thoughts and ideas, drop them in the comments!