Crypto Daily – (BTC) has just dropped under $61,000 amid fears of continued selling from the US and German governments, and potential fresh selling from Mt. Gox BTC holders. Will the decline continue, or is $BTC at or near the bottom now?
Bulls or bears?
Bitcoin has been at the bottom of its range, and below $63,000 for the past ten days. Buyers and sellers are having a Battle Royale between the $63,000 down to the $60,000 price levels, and it’s still not apparent whether the bulls or the bears will end up the victors.
$BTC heading to $60,000 next?
Source: TradingView
In the very short time frame of the 4-hourly, it can be seen that the $BTC price is trying to stay on top of the very important $61,000 support. If this is able to hold for the next couple of days, the short time frame stochastic RSIs for the 4, 8, and 12 hours would be able to reset and then start bringing upside momentum back into the price.
$51,000 is bearish case
However,…
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