RATE Group | Bitcoin bulls sent reeling by ‘very damaging drop,’ says chart watcher
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Bitcoin bulls sent reeling by ‘very damaging drop,’ says chart watcher

07 Sep Bitcoin bulls sent reeling by ‘very damaging drop,’ says chart watcher

Posted at 20:34h in Bitcoin News by

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The technical picture for bitcoin deteriorated significantly Thursday when the No. 1 digital currency shed more than 5% for a second consecutive day, plummeting through critical support levels on its way to a two-week low below $6,300.

A day earlier, technical guru Rob Sluymer of Fundstrat Global Advisors said in a research note that the next one to two weeks were critical for bitcoin chartists, citing the $6,600 to $6,800 level as crucial support, adding that a break of these levels could see a retest of the August lows below $6,000.

Speaking to MarketWatch on Friday, Sluymer said “that was a very…

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