A Bitcoin analyst is expecting Bitcoin to drop to $5,600 due to its inability to surpass $6,900 in recent weeks. He also feels that it could fall to the $5,250 range. Analyst ‘Crypto Michael’ recently tweeted his expectations after the rise and fall of BTC during the month of March.
Brokedown after a distribution pattern and clear rejection of the $6,900 area.
On the first support around $6,000-6,100 here.
Might be testing $6,400 before continuing to drop, primary level for support is $5,800 and more heavily the $5,250 area.
He wasn’t the only one that felt this way, another trader by the name the Twitter name of ‘George1Trader’ also tweeted similar sentiments about the price drop and its range.
Only compounding my short if we get some kind of sweep of the high. Next stop is 5.6k imo. I’d flip bullish if we manage to reclaim 6.6k.
In the coming days or weeks these predictions could be fulfilled one way or another. If it rises above $7,000, drops below $6,000 or remains at is current rate, many investors are anxious.
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