“You’re getting a bounce today, but I expect the next level of support down close to $6,100,” Rob Sluymer, a technical strategist at FundStrat Global Advisors in New York, said in an interview. “It’s pretty early to make the case that you need to go long. It’s got to stabilize first.”
Bloomberg Intelligence analyst Mike McGlone said “Bitcoin is in dump mode, following the pump run-up on the potential for a U.S. ETF,” he said in an interview. “It may not subside until revisiting good support near $4,000 -- last year’s mean.”
He called this year’s correction “tame”