Bitcoin Just Broke a Crucial Level, Opening the Gates for a Move to $7,000

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Bitcoin and the aggregated cryptocurrency market are currently flashing some signs of weakness This comes close on the heels of yesterday’s widespread Twitter breach that caused many major accounts to shill a scam in which they requested Bitcoin from their followers Although this certainly isn’t bad for Bitcoin from a technical or fundamental perspective, it may degrade the public’s trust in the digital asset Some analysts are now noting that the latest decline has caused BTC to break its Ichimoku Cloud support This suggests the crypto is poised to plunge towards $7,000 in the near-term Bitcoin’s latest decline has led it to the lower boundary of its long-established trading range at $9,000. Although the support here has proven to be quite significant on multiple occasions, bears may be gearing up to shatter this level. BTC’s decline also pushed it below a crucial technical level. Analysts believe that this plunge has…

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