Bitcoin has been in a downtrend and despite us believing that it will drop towards support at around $6500 we feel this a good entry level for the cryptocurrency to rebound and there is significant upside potential from this level. However, if Bitcoin consolidates below $6500 we could see 2019 YTD gains being erased and prices falling towards $4000 in the next few weeks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.