Bitcoin (BTC) is in a difficult spot right now. The next few days have the potential to determine the fate of Bitcoin (BTC) in the coming months. Until now, the crypto currency had done a good thing to stay above $ 6,000, but once this level had been violated, it would not be a surprise if we did it again. However, if something like this happened, this time around the graves will be around. If Bitcoin (BTC) falls below $ 6,000 and remains at the same level until the end of the month, it will mark the decline and fall below $ 6,000.
The long-term trend shows that a long-term stock market scenario will be kept, while Bitcoin (BTC) should stay above $ 6,000 on a monthly chart. If the monthly chart falls below $ 6,000 and closes, it will disrupt the market structure. However, in the case of any financial asset, a good indicator of the reversal point is the actual value of that asset.
Bitcoin Drops Below $ 6,000
It is not in the interest of those who control and manipulate Bitcoin (BTC) at this point to allow the price to fall below $ 6,000 when everything is thought of. However, as Bitcoin (BTC) Futures is put on the market, other games may be introduced. For example, this may allow producers to fall below $ 6,000 for a while to give the wrong idea of the market structure being broken.
What Will Be In The Future?
The bills do not enter their short positions, they will pump back prices to liquidate their positions. We have seen this many times in the past. It is true that market makers can allow prices to fall for as long as their hidden agendas are met, but after 5 or 10 years for long-term investors who believe in future market expectations, this should not make any difference.