Monday, July 1, 2019
The price correction continues. The last support at $10'300, before the $10'000, has not yet been tested.
Actual support/resistance: $10'600/$11'500
After a weekend start where the price was traded sideways, the Bitcoin fell below $11'000. After finding support above $10'600, the MACD lines crossed last night, indicating a change in momentum in the medium term. The last three times this happened, the price had stabilized for some time to regain its upward momentum. The RSI(14) is also close to being neutral and after this month of madness, it is critical to hope for some stability for the future. Indeed, if the price consolidates above $10'000 we would be in a totally different situation in 2017 with an intermediate level of support to set the basis for a next healthy rise. The next few days will be critical because if the correction continues, it could generate a panic movement that would see the price drop to $9'000-$8'000.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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