Bitcoin is still in a corrective phase since it broke below $6,500 area. The market seems quite indecisive with low liquidity. After the recent plunge, the price is expected to climb higher for a certain period before showing any impulsive momentum on either side of the market. After breaking below $6,500 area, the price is more likely to move lower with a target towards $5,000 area. Nevertheless, certain correction and volatility is expected to persists on its way lower. As for the current scenario, the price is expected to retest $6,500 area before showing further bearish pressure in the short term.
