Earlier last week Bitcoin reached an important resistance level of around $8,300 and with many expecting a decisive move to occur, either way, BTC fell in price and even dropped as low as $6,400. However, what was interesting to observe was just how quick BTC managed to recover when many expected the decline in price to continue.
Bitcoin to remain Bullish?
The recent drop in Bitcoin’s price and rapid movement up indicates that there were a lot of buyers interest in the $6,400 region which pushed priced back up to its current levels. A sign to suggest that we currently remain in bullish sentiment.
SOURCE (https://zycrypto.com/bitcoin-recovers-to-8000-why-the-market-sentiment-is-now-different/)
What is your opinion on this news article? Currently, Bitcoin is down 0.83% and trading at around $7,844.01 (https://coinmarketcap.com/currencies/bitcoin/) with $138,959,092,498 market cap at the time of writing.