Wednesday, June 12, 2019
A drop happened early morning yesterday but it was quickly recovered due to strong buying pressure.
Actual support/resistance: $7'600/$8'000
Since Bitcoin price has dropped below $8'500, it has been traded sideways in that range. If it passes through the resistance firmly, it is expectable to see the prices climb close to $9'000. However, going under the support could lead to a drawback in the $7'000.
Other top cryptocurrencies are still subjected to Bitcoin fluctuations and fail to experience any price rise or fall independently. Even though the changes they follow are not as important as before, we cannot talk about an Altcoins season yet.
In terms of indicators, the situation stays the same and no changed of momentum is apparent.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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