I have been talking about the $6000 level since I joined Steemit back in five different posts over the past four months:
Wall Street Secrets Revealed #1 - The Hedge Funds Are Coming To Crypto
We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
Crypto Analysis Report 3-15-18 BITCOIN...Price Drops Below At $8400...Now What???
Personally, I like the buy orders at $6000 because that was the origin of the move to $12000, which signifies extreme interests in buying at that level...not to say price will go that low, but that level is buying Bitcoin at an extreme discount.
Crypto Analysis Report 3-18-18 BITCOIN...Great Buy Opportunity At $6000
If last week's price action was any indication, we will get to that level in 5-7 days. Even if we get that low, I'm going to wait for confirmation in the form of trend line break on the daily chart
Crypto Analysis Report 4-2-18 BITCOIN...Why The $6000 Level Is So Important
In the post/graph above, I stated we were approaching what I believe would be the bottom of Bitcoin at $6000 and that my first target was $12,000 and my second target is $17,000 over the next 3 - 9 months. Thus, I wanted to expand on why $6000 is such an important level to the Bulls.
In Nov. 2017 the buyers bought Bitcoin and kept buying Bitcoin all the way up to $20k. From $6k to $20k is a big move up, but the origin of this big move started at $6k. So when price revisited $6k in Feb. 2018, the buyers stepped in again and price rose to $12k.
Crypto Analysis Report 5-26-18 BITCOIN...Price In A No Trade Zone
There are a lot of people out there that think Bitcoin is heading a lot lower....like below $6000. However, in the past I have talked about the $6000 being key and strong level, so I don't see price getting below $6000 without a tremendous fight from the Bull.
In just a couple of days, price has dropped $1000 points on an exchange getting hacked and price manipulation and because the weather was just nice outside (that one is a joke). The infamous $6000 level came into play again yesterday. Price came within $100 of $6000 level before bouncing.
This level has come in to play one other times in the past four months. I really don’t know how long this level will continue to hold. It’s like a dam ready to break. It’s the due or die level for Bitcoin. If this level has any chance of holding, the daily candle must close above $6800 (aqua circle).
The second test for the buyers are the first signs of sellers at $7200 on the 4 hr chart (yellow circle).
If price breaks the $6000 level, price is going down to weekly demand zone at $4400. Lets see if the naysayers great their wish.
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.