Tuesday, June 11, 2019
Bitcoin recovered quickly in a few hours yesterday with strong buying pressure.
Actual support/resistance: $7'400/$8'000
Unfortunately, this momentum ran out of steam after testing the $8'100. As long as the price remains above $7'800 and if volumes are sufficient, we can expect a bullish momentum in the medium term. However, if this level does not hold, with the failure noted at $8'000, it is very likely that the support will be tested at $7'400. In terms of technical indicators, the price is still below the 20-days moving average and the RSI(14) is still neutral. The MACD lines are converging slightly but it is too early to talk about a change in momentum.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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