The leading cryptocurrency is down 7.69% at time of publishing, breaking below key support at $7,000 to a six-month low of $6,768 on CoinMarketCap.
Outlooks on where BTC may head next are pouring in. Here’s a look at the latest from seven crypto analysts. So far, none of the analysts are saying Bitcoin has reached a bottom.
“18% drop this week and currently trying to hang out to the $6,800s. Funding still positive, so not overly bearish at this point as $6300s would be an eventual target here, the only question is does it bounce back up to high $7ks before or after the next drop.”
“Potential bullish divergence with oversold RSI on every time frame below 12 hours. Bottom likely close. I wanted to see it on daily, perfectly happy seeing it here. Not confirmed.”