Seems bitcoin will drop below $7K instead of trying to break the resistance level above $7500. While we've entering the mid-December but the market shows that more seller than the demand to buy, which mean the price will continue to decline.
We had a good support at $6500 and the price is trading around a range of thousand dollars from that and i do not expect a huge correction from this stage as i am expecting more investment coming in once it tries to breach the first support level and neither do i expect the market to break the resistance in the next couple of weeks.
The bears once again attacked the 6500 support level and they were very close to be successful, the bulls were able to once again sustain that level but I question myself how long it is going to take for the bears to finally made the price to go down to even lower levels than that, it seems to me that it is just a matter of time before that happens because I do not see how bitcoin is going to recover to a price above 9000 before the end of this year.
