BTC has managed to drop to the 6000 level, and through it. Will it stop here? Its hard to say.
I’m guessing there’s a fair amount of support 5500-6000. Candle code shows that today’s long black has a 62% chance of being a reversal. Volume was very heavy, a decent-sized lower shadow showed some dip-buying.
Forecaster doesn’t gamble on reversals though, its still deeply in downtrend-land.
I’m not sure 6000 will hold. We might have one more leg down. Next support level is down at 5000. You could put a buy order slightly above 5000 and you might get lucky. Bitcoin tends to like its round numbers. That’s because we humans like them.
Bitcoin cash surged to almost $2000, but has since pulled back.
From what I see, people are essentially wagering on the future popularity of each software release. They are called “coins” but the coins are really just side effects spun off by a big bag of code. Coins are essentially a share of the future operations of the software package. Or something like that.