Bitcoin is currently struggling to hold it's price from its recent rally above the $6,000 mark. We have seen a tremendous price increase since the last market drop with Bitcoin recovering the most compared to the other cryptocurrencies. As we know most of the when Bitcoin price goes up we see a drop in altcoins (Vise-a-versa). I am speculating we may see a short-term drop to phycological levels which can be seen on the graph. However, as time approaches closer to the Segwit2x hard fork people may jump onto Bitcoin in hopes to get some free forked coins, as well as use the network that is going to be more efficient due to quicker transaction times.
Personally, I am waiting to further indications of prices on the 25th (The next fork).
As always trade the lines accordingly.
Personally, I am waiting to further indications of prices on the 25th (The next fork).
- Orange - Resistance.
- Purple - Support.
As always trade the lines accordingly.