Another Rejection @ $9,000 for Bitcoin ? Technicalities in Bitcoin Next Breakout.

By Ashma | Bitcoin Analytics | 4 Jun 2020


As we seen today Bitcoin lost its uptrend and loses almost $100 and failed to break above $10,000. As now bitcoin is trading between $9,400 - $9,600 range, following today's failure. According to my last analysis it was cleared that Bitcoin must maintain its value above $9,135 on weekly chart to carry with uptrend following by 2015.

Taking RSI indicator into account, momentum of bitcoin is decreasing and it is near to the 50, which is the critical level of the RSI indicator. Instead of all these things, first challenges in front of Bitcoin to take support at $9,400, as shown in following chart. 

BTC/USD daily chart (src:BitStamp)

In case Bitcoin breaks up the value of $10,000 followed by high trading volume, we can expect the next resistance at $9,800. 

 

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Ashma
Ashma

Crypto lover and learning blockchain development


Bitcoin Analytics
Bitcoin Analytics

Analysing Bitcoin and other Major coins like ETH. Analysis includes indications, technical analysis, growth report and price predictions. Follow and keep updating with Crypto World !!

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