We have touched this 6000 level sooo many times. It’s has become very significant support which if broken, all hell may break loose. On the other hand and as you mentioned, everytime we get there, it bounces back. No one wants to sell at 6000 and that’s why it’s so significant. Let’s see if there are people who buy the resistance at 8200-8500 levels. If that happens, shorts willl be squeezed and at the same time new buyers would come on board. That would be a great sign for bitcoin and overall crypto market.
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It is just a hunch, but I think when it was climbing last summer, then dipped back down to the $6000 level in mid-November, big money must have come in a purchase large amounts of Bitcoin. I say this because it has held $6000 so many times.
The longer the Bitcoin Price stays at $6000 or higher, the harder it will be to go below that price. Also the cost of producing 1 bitcoin is also putting a bottom to the price of Bitcoin.