The industry sentiment remains subdued this week, with reports on the security breach on Bancor exchange have added some downside pressure on the digital currency as the accident made traders worry about safety of their tokens. The general positive sentiment around the greenback restrains bitcoin’s potential as well.
Some technical indicators reflect the lingering risk of return in selling pressure in the short term. Should the pair derail the $6,000 threshold, the price will target the $5,800 area once again. To prevent such a scenario, the coin needs to regain the 10-DMA at $6,500. The industry needs positive regulatory news and commentary to show a more sustainable and convincing rebound.