BTC price fell to $5,400 in November 12, it moved back to $5,500 yesterday and tested support level, indicating $5,500 is a strong support on the short term, that’s why we can witness a rally by 20%.
A shocking move was initiated yesterday when price closed near $6,500. Today, price continued its struggle near $6,500 and showed signs of disputes between bullish and bearish investors, subsequent momentum remains uncertain.
Even if price can continue its uptrend, it will be limited, not to mention the pressure brought by those locked above $7,000. Basically, the rally below $7,000 is ended, if price can’t break above $6,500, it may be pulled back to $6,000 level at least.
Go to
https://aicoin.com/chart/59D56005 for BTC chart.
Original by Bi Laoye, translated and psoted by AICoin Jami
