Last weekend, Bitcoin (BTC) nearly hit $8300 before getting back to $8000, and today, the cryptocurrency is not being stable and is expected to drop and hit the $7000 mark.
The drop today confirms that BTC is still not ready to be stable in the $8000 dollar mark.
Bit coin is currently at the $7800 range, it lost nearly $500 dollars since yesterday.
For some time, many believed that BTC will be become stable at the $8000 USD range, but it has failed on multiple occasions and has now been proven that it could not be stable above $8000 USD.
Crypto Dog, a cryptocurrency analyst on Twitter, said, “Hell of a bullish weekly close on #Bitcoin with near record breaking volume, solidifying the strength and validity of this rally. $BTC / $USD is full. Weekly resistance: ~8215. Weekly support: ~7300.”
DonAlt, a cryptocurrency analyst on Twitter said, “$BTC weekly update: Just closed my ETHUSD and BTC long from 7300 & 235 respectively. The way I margin trade a bull market is to buy support & take profit at resistance while staying in spot positions. I’ll look for 7300 to relong, if that doesn’t happen I’ll long a S/R flip.”
Even after failing to stabilize, BTC is still trying to hit and reach the $8000 USD mark and is trying its best to become stable in it.