Bitcoin Dropping to $6K ‘Golden Pocket’ Isn’t Bearish, Says Trader

Bitcoin Dropping to $6K ‘Golden Pocket’ Isn’t Bearish, Says Trader

Gate Trade News Friday, June 26, 2020 30 0

A classic Fibonacci retracement could land BTC/USD at $6,300 or lower and still not disturb the long-term trend.

 

Bitcoin (BTC) could crash to $6,000 and still remain bullish, one trader claimed on June 26 as the largest cryptocurrency tested $9,000 support.

 

In a Twitter analysis, the popular trader known as SteveCrypt0 offered an alternative to the bearish sentiment coming from markets this week.

 

With BTC/USD circling $9,200, analysts are broadly risk-off. Broad correlation with ailing stock markets has sparked multiple warnings that a failure to keep support at current levels could spell a fresh downturn.