Author:
Quick update: Bitcoin is forming a sort of bull-tunnel trend line, after getting supported by the Moving Average 50 days (purple line), Bitcoin had a quick gain, breaking up the 200 days Moving Average (pink), to re-test the $6800 resistance. The consolidation above $6600 is critical for the short term.
The big pictures is that Bitcoin is getting closer to a possible cross between MA-50 (purple) and MA-200 (pink). Just a reminder: the last time it crossed down, on May 15, Bitcoin had left the $9000 area and didn’t get back there.
Resistance levels are at $6800, $7000 and $7300.
Support levels lie at $6600 (MA-50) and $6400.
BTC/USD BitFinex 4 Hours chart
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
