Bitcoin Traders Target $6-7K Following Four Failed Attempts to Surpass $10K

Since May 20, the price of Bitcoin (BTC) has declined by nearly 10%, causing traders to shift their focus from attempting to break the $10,000 resistance level to maintaining support above the crucial $8,800 mark.

The recent short-term bearish trend emerged after the leading cryptocurrency faced consistent rejections near the $10,000 threshold, resulting in a series of higher lows at $9,942, $9,905, and $9,849.

Currently, traders are closely monitoring potential price movements, with eyes set on the lower levels between $6,000 and $7,000 following multiple unsuccessful attempts to breach the $10K barrier.