Bitcoin BTC BTCUSD 27 Jun 2018
Bitcoin price is sliding back below the 100 SMA to reflect the return in selling pressure and the gap between the moving averages is widening to reflect stronger downside momentum. What should traders expect next? Gain insight into the following 27 June BTCUSD Price Technical Outlook.
27 June, Swissquote – Bitcoin appears to have reeled from Jack Ma’s comments on how the cryptocurrency is likely a bubble even as blockchain technology has several applications. This comes in the heels of hacking incidents and stronger regulatory oversight in Japan.
Our pivot (invalidation) point is at 6206.
The downside prevails as Long as 6206 is resistance.
The upside breakout of 6206, would call for 6383 and 6488.
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 6128 and 6177).
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