Bitcoin has been quite impulsive with the bearish gains which lead the price to reside below $6,500 currently. Though there has been certain probability of bouncing off from the $6,500 area, as per the recent prediction by Bitcoin developer Willy Woo, the price has structured already to proceed much lower towards the $5,000-5,500 area in the coming days. As of the current scenario, the price is expected to push lower below $6,000 with a daily close which may lead to impulsive bearish pressure in coming days. As the price remains below $8,000, the bearish bias is expected to persist.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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