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cryptocurrency-event-2018

BTC/USD Long-term Trend: Bearish

Supply Zones: $6,600, $6,800, $7,000
Demand Zones: $6,200, $6,000, $5,800

The overall trend of the price of Bitcoin had been bearish in the month of June 2018. The BTC/USD pair was valued at $7,715.60 at the beginning of June. The price of Bitcoin is $6,400.55 as at the time of writing. At other times the price of the cryptoasset had been fluctuating within a confined range but the price has been sustained above the $6,000 price level.

For instance, the price of Bitcoin fell to the low of $5,893.51 on  June 29, but price pulled back to the $6000 price level. 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 price of Bitcoin will continue its bearish movement. Nevertheless, the relative strength index period 14 is level 43 which indicates that price of the cryptoasset is in the sideways trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

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