Trading expert Alex Krüger claims that Bitcoin price is still vulnerable as it’s struggling to gain more steam after an exhausted price.
According to Krüger, it is worth opening a long position once the Bitcoin price breaks above the $7,900 level, which would put the “crypto king” back on track.
He determined that $7,600 would be the coin’s nearest support level. If it plunges below this price mark, it opens the door for a slew of further pullbacks, which could eventually send the BTC price back to $6,400 (the most traded price of 2018).
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As reported by U.Today, Krüger previously stated that Bitcoin going above $6,400 would confirm the next bull market. Indeed, since breaching this psychologically important mark, BTC continued its meteoric rise to $9,000.
Despite the recent downturn, Krüger sticks to a bullish scenario, alleging that he would start buying bags of BTC once its price drops below the $6,800 area.
I see the 6800-6200 area as a gigantic buying area. I do not know if price will drop there. I know what I'll do if price drops there.
— Alex Krüger (@krugermacro) June 5, 2019Chainlink Sees Highest Whale Activity in 14 Months, Is Major Move Coming?‘100% Big Deal’ – Ripple CEO Defends Crypto Czar’s Big Press Conference On Crypto LegislationSEC Reducing Crypto EnforcementDogecoin (DOGE) Lands on Crucial Support, US Dollar Index (DXY) Signaling Bitcoin Surge, Ethereum (ETH) Shows Worst Top 10 Performance
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