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Bitcoin Price Defends Key Support Despite ETF Rejection

The BTC will remain well bid above $6,230 and was low till 20th August in the 24 hours.

If the support at $6,230 is breached, then the bears may push the cryptocurrency down to the recent low of $5,859.

A UTC close below $5,755 (June low) would signal a resumption of the long-run bear market and would open the doors to $5,000.

The probability of a break below $6,230 is low, as the SEC ruling has not caught the market off guard – that is, an investor community was likely expecting the commission to deliver bad news after its previous ETF rejection in July.

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