Trading Bitcoin — Bearish vs. Bullish
Is Bitcoin on the verge of a shift? Well, maybe. BTC was up against massive resistance around the $6,650.00 USD mark. If the trading price would have surpassed this mark momentum could have carried Bitcoin through to a potential optimistic high in the $8,000 USD range, carrying along with it a number of other altcoins.
With Bitcoin, as well as other cryptocurrencies who are seeing long and stagnant lows, this could have been a point where things start climbing again. If BTC can climb to $6,800.00 USD then it may even make $7,000 USD possibly $7,100 USD depending on how the next resistance is broken.
On the other hand, if BTC sinks below the $6,600 USD mark, the bear market will continue until resistance runs out and we see some upward momentum in trading price towards the end of the first week in October. As things sit now BTC is hovering in the $6,400/$6,500 USD range, which still leaves opportunity for a push to the $6,600 — $6,800 USD mark.
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