{"id":405355,"date":"2019-11-25T03:00:21","date_gmt":"2019-11-25T03:00:21","guid":{"rendered":"https:\/\/ktsl888.com\/?p=405355"},"modified":"2024-06-11T13:34:28","modified_gmt":"2024-06-11T13:34:28","slug":"bitcoin-price-plummets-under-6700-is-below-6ks-unavoidable-now","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-plummets-under-6700-is-below-6ks-unavoidable-now\/","title":{"rendered":"Bitcoin Price Plummets Under $6,700: Is Below $6ks Unavoidable Now?"},"content":{"rendered":"
Bitcoin has just plunged to a new six month low under $6,700 which opens up a new range of lows in the short term. The chances of a \u2018santa rally\u2019 are dwindling as crypto markets continue to crash back towards the deep chills of winter 2018 levels.<\/p>\n
According to Tradingview.com<\/a> BTC has plunged to a low of $6,615<\/a> an hour or so marking a fresh new six month low. The last time it was at these levels was during a rally in mid-May, today the direction is all heading south.<\/p>\n <\/a><\/p>\n Most of the weekend has been spent hovering around the $7,200 level but the cards were already on the table for Bitcoin. Further losses were widely predicted<\/a> and the continued decline has sent the asset tumbling again during early Asian trading on Monday morning.<\/p>\n At the time of writing BTC had crept back above $6,700 but the move has opened the digital door all the way down to $6k and below. There is very little support between here and the mid $5k level looking at this year\u2019s chart patterns.<\/p>\n During the 2018 bear market $6,400 was the price that BTC remained at the longest so it could bottom out there and repeat that pattern. The weekly chart is nasty and its close below $7k indicates that there is a lot more pain ahead.<\/p>\n Analysts are eyeing support levels around $5.8k<\/a> to $6.2k since the weekly candle failed to close above $7.3k.<\/p>\n $btc<\/a> weekly — Adrian Zdu\u0144czyk, CMT (@crypto_birb) November 24, 2019<\/a><\/p><\/blockquote>\n\n
close above 7.3k -> targets 7.9k; 8.35k (decent short entry) (MA50\/100 held this way)
close below 7.3k -> 5.8-6.2k (decent DCA MTF longs)
I still rather zoom out and play the big picture\ud83d\udc4a pic.twitter.com\/YcB09P3Gzq<\/a><\/p>\n