Bitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move

Bitcoin (BTC) has dropped for six consecutive days in a row. It’s currently declined by 54% as of this writing. The king of cryptocurrency plunged by 4.3% and traded under $22,000 on Monday. It has increased by 14% last week yet ended with a retracement. On Sunday, BTC prices have improved a bit by 14%. The slight spike in price marks the traders’ massive sell-off happening at the $23,000 range or BTC being sent to exchanges. BTC volume or flow towards exchanges has increased in the past 24 hours. There was a marked increase in terms of net deposits implying the large volume of BTC being moved to exchanges that can help them exit their current BTC position. Buying window is seen from July 14. Suggested Reading | Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours BTC Prices Show Resistance At $23,000 More so, it is expected that BTC prices will continue to be consistent showing some support at the $20,500 range and resistance seen at around $23K. We should be paying close attention to GDP growth statistics on Thursday as analysts estimated a growth of roughly 0.5%. Meanwhile, a GDP that hovers below 0.5% will give away a bearish movement for both the digital and traditional markets. A negative sentiment is predictive of the possibility that the economy will move into recession. If in case the price range doesn’t hold up at $22,000, Bitcoin may fall in a heap at $19,000. It’s apparent that BTC is attempting to keep wit...