Bitcoin slipped below $6000 – What’s the next support?

Bitcoin was holding above the psychological support level of $6,000, extending bulls hope that the pullback is still expected...


Bitcoin was holding above the psychological support level of $6,000, extending bulls’ hopes that the pullback is still expected. But just now, the BTC/USD has slipped below $6,000 to place a low of $5,858.

BTC/USD - 240 Min Chart

As you can see, the crypto pair is following a strong bearish trend as the 100 periods moving average is supporting the selling bias. Now, the bearish channel on the 4- hour chart is likely to extend support near $5,775. While on the upper side, the BTC can face resistance near $6,140.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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