medium-term support Bitcoin

[cnncandy]

If in the future, Bitcoin will continue to support the medium-term support line and the key support 6000, the market will trigger a new round of selling pressure, and the price will be suppressed to a lower price. The short-term support is 6000, and the upper resistance is 6350; 6500.

[talkbitcoin]

that doesn't make any sense! why would the price drop because it is stable?!!!!
if anything the price should rise up because it is currently stable. in other words right now this current state looks more like an accumulation rather than anything else, specially since the volume is huge! and as accumulations go, they always lead to a rise.

[btcdevil]

that doesn't make any sense! why would the price drop because it is stable?!!!!
if anything the price should rise up because it is currently stable. in other words right now this current state looks more like an accumulation rather than anything else, specially since the volume is huge! and as accumulations go, they always lead to a rise.

Both the option can happen as no one can what is going to happen next, what if their are any big holders start to sell then obviously the market will go down and it can test a new low and same what if any good news release and market reacts good and we can see that market crosses 8000+ mark. So no one can tell future correct. But your part of accumulation is correct and their is huge accumulation is going on and same thing was happening in 2017 start when it was testing hugely to cross $1000 mark and most of them got frustrated when it tested so many time and then it exploded which no one expected it.

[mk4]

that doesn't make any sense! why would the price drop because it is stable?!!!!
if anything the price should rise up because it is currently stable. in other words right now this current state looks more like an accumulation rather than anything else, specially since the volume is huge! and as accumulations go, they always lead to a rise.

Not because it's stable it doesn't mean it should rise up. Yes, we might get a big move after all these price stability, but it could go either way. There's zero guarantee for the prices to go up.

[HeRetiK]

that doesn't make any sense! why would the price drop because it is stable?!!!!
if anything the price should rise up because it is currently stable. in other words right now this current state looks more like an accumulation rather than anything else, specially since the volume is huge! and as accumulations go, they always lead to a rise.

Not because it's stable it doesn't mean it should rise up. Yes, we might get a big move after all these price stability, but it could go either way. There's zero guarantee for the prices to go up.

Especially if people are still expecting prices to go up after phases of stability. There's still too much hope around here. The market has yet to capitulate.

[BrewMaster]

you can not make that kind of conclusion based on the current trend at hand. all we know is that price is not moving right now and all the attempts to change that have failed. yesterday we had an attempt to push the price down below the buy support but it only could drop the price about $200 and nothing more.