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Bitcoin Price Teeters on Brink or Brutal 'Panic-Driven' Crash



By CCN: According to prominent technical analysts including Peter Brandt and DonAlt, the bitcoin price is facing strong resistance at around $ 6,000 and is vulnerable to a correction in the short term.

"Just an opinion – there is a chance BTC is topping here, with its price target at key resistance. A correction could occur before another move toward 6500, then a more significant correction, "Brandt said .

dollar, demonstrating strong momentum

 bitcoin price chart

The bitcoin price has increased by more than 10 percent in the past week. (source: coinmarketcap.com)

But, over the medium to long term, technical analysts remain fairly positive about the price trend of bitcoin and only expect temporary corrections to occur in the near-term

Bitcoin Exchange Scandal Encourages Traders to Proceed With Caution

Based on the data provided by OnChainFX, the "real 10" volume of bitcoin, which calculates the legitimate spot volume of the dominant crypto asset using the methodology of Bitwise Asset Management, is at around $ 435 million

In early March, Bitwise reported that the real daily volume of bitcoin taken from exchanges with at least $ 1 million in verifiable daily volumes such as Kraken, Binance, and Bitfinex was around $ 270 million.