Welcome back folks. Recently we posted an article mentioning our predictions on the price action. We believed that Bitcoin would drop to the low 6000s before observing the next move forward. Today, it looks like we’ve gotten down to lower levels than before, which was expected.
The price we’re watching now is whether Bitcoin can stay above $6200. If Bitcoin can manage to survive above this level, it may be a good thing for the next coming week, but if we drop below this, we would advise caution on purchases as the coins could drop in value quickly.
If we’re able to maintain $6200 and continue inching upward, this would be a more positive indicator for the time being. We’d like to see more volume and price movement upward, then we can all celebrate as Bitcoin continues to move forward in the direction we want (up, up, and away).