Bloomberg analysis: Bitcoin could bottom out in $ 6,500 range

Bloomberg wrote in an article "Bitcoin is in a wait-and-see mode because the downward trend continues", as the price of Bitcoin stabilizes above the "support level of the initial (CME futures) price gap created on May 10, It is likely to bottom out in the $ 6,500 range. However, Bloomberg pointed out that Bitcoin is still in a bearish downtrend channel pattern, which was formed at the end of June, when it reached a year-to-date high close to $ 14,000. "BTC This downward trend needs to be broken in order to regain positive momentum. Bloomberg Intelligence analyst Mike McGlone said the breakout resistance "is just a matter of time", the most notable of which is the $ 10,000 horizontal and psychological resistance.