Bitcoin on the verge of huge selloff which might take it to $ 6,500 levels

The Bitcoin price is currently on a very important technical level which position it for a rapid price change in the near future.

If the price manages to break the current level, there is a possibility for it to retest $13,000 level which was the highest since June 2019.

But the chart patterns identified, suggests a more bearish move is much expected within the short horizon to the level around $ 6,500. With the expectation of recoveries in the world economy from Covid-19 Pandemic, it will be expected for Bitcoin and Cryptocurrencies assets to experience a temporary selloff.