Bitcoin Back Down To $6000?

in #bitcoin8 years ago

This isn't any type of FUD. Bitcoin may possibly continue to drop. Back in December, it looks like a large amount of institutions got out of bitcoin due to the large trade volume from sellers on 12/22. This doesn't mean anything bad. Institutions buy in and out all the time to get their profit, and wait for a good entry point. Using the 12 Hour candles on the chart, we see that Bitcoin is struggling to get over the "hump" so to speak. 



If Bitcoin can't break this resistance line, we will continue to see a decrease in its value over time. If Bitcoin is able to break this resistance line, we should see bitcoin go up in value. Once this crash is over, this should be the last one. 


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