Bitcoin impact….

Again a bearish nature seen in Bitcoin with a high of $6578.52 to $6388.41 range. The same trend of Bit coin going on the exchanges of crypto exchanges. Sale is dominating on buys. After the bull trend seen in the coin yesterday and beaten the $6.5k price and resisted, but still the bearish run seen today. A close fight between bulls and bears how ever the bearish are dominating the bulls.

But a good thing is going on that $6000 resistance is not broke yet. It resists in a good sign which hope for a bull rise of Bitcoin. Near about 25% drop in these two to three weeks from a high of $8500 is likely indicating the big investors disappointed by the decision of US security exchange. And the decision will be taken in th month of September so there is a hope for the bulls making a strong comeback in the short term and the bullish will dominate the bearish. The technical charts also making point that the bitcoin market is nearing oversold conditions. As a result demand will raise and supply will go down which may regain in the price of bitcoin.

So this low cannot be ruled out although the bearish moment is and will bull in very near future.

The bearish momentum in BTC could wane in the next 24 hours, allowing the cryptocurrency to defend the immediate support of $6,000.A corrective rally cannot be ruled out but is seen running out of steam around the downward sloping 5-day and 10-day MAs, currently located at $6,660 and $7,000, respectively.A daily close (as per UTC) above the 10-day MA would weaken the bearish pressure.Acceptance below $6,000 would shift risk in favor of a drop to $5,755 (June lows) and could be followed by a "V-shaped" recovery to current levels as the indicators are flashing oversold conditions.