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06.07.201812:01 Forex Analysis & Reviews: Bitcoin analysis for July 06, 2018

Long-term review

Exchange Rates 06.07.2018 analysis

Trading recommendations: Recently, Bitcoin has been trading downwards. The price tested the level of $6.507. According to the H1 time - frame, I found a broken upward trendline in the backgorund, which is a sign that sellers are in control. I also found a hidden bearish divergence on the macd oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $6.233 and at the price of $5.765.

Intraday resistance;

$6.507– Intraday support; $6.233 – Objective target 1;$5.765 - Objective target 2

With InstaForex, you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
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