I spoke extensively about the $6000 level in a post almost two weeks ago.
Crypto Analysis Report 6-14-18 BITCOIN...$6000 Level…The Do Or Die Level
In the above post, I talked about if price was going to have any chance of moving higher, buyers needed to take out the sellers at $6800.
However, the buyers were never able to take out the sellers at $6800. Yesterday, price breached the $6000 level and went as low as $5910 before pulling back.
If you look at the price action over the last several weeks, price has been forming lower highs and lower lows.
Thus, if price closes below $6000 on a daily candle, look for price to go down to the $4400 - $4800 area.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.