Bitcoin Price may fall down

Lebedev

Lebedev

Moderator
Moderator
Jun 26, 2018
154
28
On 4-hour graph of Bitcoin we could see backward figure of two picks, what might mean that a correction is waiting for us on the 30 day MA at the level of $5294.

Bitcoin Price may fall down

This way, the main cryptocurrency had been trying to stay at level of more than $5780, which used to be the minimum in June 2018. Thus for stable growth to the psychological level of $6000 we might have to face another one correction. Fallen of 30-day MA however, may lead bitcoin to fall lower than $5000.

Bitcoin Price may fall down

On Friday bitcoin price used to be around $5796, the next day it was $5846, but it couldn't managed to stay at these positions. At the moment, support of two picks figure stays on the level of $5510.


On the day graph RSI indicator has created a small bear divergence, while picks that came after were lower than the ones before, on the other hand, price graph saves the trend, what might be a bad sign.

Bitcoin Price may fall down

Nevertheless, we can see a very powerful bull trend on the week graph. RSI indicator is higher than 55, 5 and 10 week MAs have crossed in the point of $5386, that might be a good support. Taking in count that the long-term image shows high level of growth to come, correction may be the very small one.
 
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