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.
