Bitcoin (BTC) abandoned several support levels in the past weeks, and failed to rally to new support. Just as longs interest was piling up, BTC dipped under $7,000, causing liquidations.
BTC slid to $6,927.16, with volumes accelerating to above $20 billion’s equivalent in 24 hours. The move downward was expected, and happened hours after BTC managed to hold above $7,100. Only hours later, the entire market slid into the red, with altcoins reaching lower valuations.
The price slide happened within minutes soon after US markets opened. BTC also completed a pattern of appreciating slightly over the weekend, and crashing at the start of the new week.
BTC is now seen as continuing on a downward trend, with a possible reversal closer to the halving ...