Friday, June 7, 2019
In this sideways market, the Community accuracy has dropped below 53%. What is yours?
Actual support/resistance: $7'400/$8'000
As expected, the price fluctuated between $7'400 and $8'000. With a fast rebound observed, 7'400$ showed again that it is an important support. For the moment, despite an increase in buying pressure, the key $8'000 level has still not been broken through. The weekend will be interesting to follow. Indeed, the previous weekends saw many price actions. The current region is still critical and will certainly determine the trend in the medium term: the price must pass the $8'000 to hope for a change in momentum.
In terms of technical indicators, the RSI(14) is at its lowest level since March. The MACD lines are converging slightly and show a small trend reversal.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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