BTCUSDT 1D | Bitcoin price overview: $8,250 or $7,300?
Hello, dear subscribers!
In the last review we considered downtrend as the main possibility of bitcoin market trends.
Today we will consider the daily chart. Starting from June 1, we see the formation of falling price peaks, which suggests that the bulls have less and less strength to raise the price. The price is in the descending channel, and as long as it is inside it, bearish sentiment will remain in the market.
The MACD indicator is in the negative zone, RSI is steadily declining and is far from being oversold, which indicates that the downtrend is still going on.
At the moment the bears' target is the lower limit of the channel - $8,250. If the bears succeed in moving forward, the next target will be $7,300. As practice shows, a break of the descending channel downwards may trigger price movement downwards by the width of the initial channel.
The actual position at the moment is selling the bitcoin or short position with targets $8,250 and $7,300.
Subscribe to the channel and stay with us!
In the last review we considered downtrend as the main possibility of bitcoin market trends.
Today we will consider the daily chart. Starting from June 1, we see the formation of falling price peaks, which suggests that the bulls have less and less strength to raise the price. The price is in the descending channel, and as long as it is inside it, bearish sentiment will remain in the market.
The MACD indicator is in the negative zone, RSI is steadily declining and is far from being oversold, which indicates that the downtrend is still going on.
At the moment the bears' target is the lower limit of the channel - $8,250. If the bears succeed in moving forward, the next target will be $7,300. As practice shows, a break of the descending channel downwards may trigger price movement downwards by the width of the initial channel.
The actual position at the moment is selling the bitcoin or short position with targets $8,250 and $7,300.
Subscribe to the channel and stay with us!
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