BTC/USD Long-term Trend: Bearish
Supply Zones: $6,500, $7,000, $7,500
Demand Zones: $5,500, $5,000, $4,500
Price of Bitcoin had been in a bearish trend since June 3rd, 2018. The BTC/USD pair was valued at $7,715.60 at the beginning of June. But as at the time of writing today, June 23, 2018, the cryptoasset had depreciated to the value of $6,146.47. Price of Bitcoin has depreciated to about 20.33 %. There are indications that the cryptoasset may fall to its previous low at $ 5,810.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal for the price of Bitcoin. In the same vein, the 12-day EMA and the 26-day EMA are above the price bars of Bitcoin which indicates that the bearish pressure is ongoing . Nevertheless, the relative strength index period 14 is level 42 which indicates that price of the cryptoasset is in the range bound zone
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