Bitcoin BTC BTCUSD 25 Jun 2018
Bitcoin sunk to $5,808 on Sunday before quickly recovering to $6,235 within a few hours. What next should traders expect from Bitcoin’s bearish reversal? Analysts at Swissquote shared their 25 June BTCUSD Price Technical Forecast.
25 June, Swissquote – Bitcoin is back to trading above $6,100 after the cryptocurrency set a new bear-market low for 2018, triggering a partial relief rally Sunday afternoon. However, the search for an elusive bottom will likely continue as the breakdown of technical positions keep retail investors on the sidelines.
Our pivot (invalidation) point is at 5956.
Rebound towards 6595.
Below 5956, expect 5729 and 5593.
The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands above its 20 MA (6156) but below its 50 MA (6235).
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