BTC/USD Long-term Trend: Bearish
Supply Zones: $6,600, $6,800, $7,000
Demand Zones: $,6,300, $6,100, $5,900
The price of Bitcoin was bearish all through the month of June, 2018. Although, the cryptocurrency had been trading above the $6000 price level after its initial fall in the month of June, 2018. For instance, the Bitcoin price was valued at $7,715 at the beginning of June. But it fell to the low of $5,893.51 on June 24 and June 29. Thereafter, price of Bitcoin has risen to the high of $ 6,604.32. However, the price of the cryptocurrency has sustained itself above the $6,000 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 addition, 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 the price of the cryptocurrency is in the range bound zone.
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