Bitcoin (BTC) has been able to incur some tempered bullishness today after a multi-day period of hovering around its support at $7,200. Today’s slight gains have come about in the face of a strong down trend, however, which could mean that these gains will ultimately prove to be fleeting and followed by further downside.
One factor that analysts are pointing to as support for the idea that the macro-bear trend is still far from being over is the fact that the options market is losing faith in BTC, which – in combination with other factors – could spell trouble for the crypto in the coming months.
there is a large resistance below $7200 and if there is someone willing to sell a large amount of bitcoin it can really go down
but many users will be happy if someone does that because they can get cheap bitcoin
if you will look in the bitcoin price chart you can see that large resistance below $7000 start in May 2019
maybe it's the one-year preparation for the incoming halving this May 2020