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Bitcoin Floating around $7,000, What Next ?

On Sunday, Most of the top cryptocurrencies faced moderate losses on the day by press time, as bitcoin trying to hold the $7,000 mark.

Image Source - COIN360

Bitcoin is down 1.5% percent today, trading at $7020 at press time, according to CoinMarketCap and Bitcoin is also over five percent down from its yesterday high of $7,500. But the good news is Bitcoin has made a new all time high of 2019 and total market cap is over $200 Billions if we look at the weekly chart of bitcoin it is up around 23%.

Image Source - CoinMarketCap

Bitcoin has faced the resistance at $7500 after the parabolic move gain nearly 100% from last one month. As per fibonacci retracement tool, the new support levels for Bitcoin are $6500, $5850 then the key support level is $4800. If Bitcoin sustains at $7000 on daily candle then you may see Bitcoin back to resistance at $7500, 7900 and then the major resistance at $8250, as per Pivot indicator tool.

Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.


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