In the absence of new news bitcoin konsolidiruyutsya in a narrow range of$6400-6500. After strong price fluctuations last week, the first cryptocurrency went into the flat. The price reduction is on the entire cryptocurrency market.
The market capitalization of bitcoin has dropped to $110 billion, and experts while new records are not waiting. Experts say that the digital asset has missed the best time for recovery and continues to move in the downward channel. Strong resistance is waiting for bitcoin at the level of $6900-7000. Only sustainable move above this level will allow bitcoin to grow to $7683 (23,5% Fibonacci). The asset received major support level of $6000. If the bears aktiviziruyutsya, bitcoin can fall to the February lows of $5900.
All stock indicators point to a further fall. The 100-day moving average is below the 200-day, the path of least resistance for cryptocurrencies is falling. The gap between the lines narrows, weakening bearish momentum, but due to weak buying activity, the sale may continue. RSI indicates neutral value. The asset is trading below the cloud of Ichimoku, it indicates a strong downtrend.
Recently you conducted an analysis and put forward his theory of the causes of the fall of bitcoin. If he’s right, next week the course should recover.
Previously on this topic in the news:
13.06.2018: 3 reasons for the recovery of bitcoin prices
Hacking crypto currency exchange and pressure from the financial institutions has negatively affected the course of bitcoin. However, experts believe that bitcoin will recover, and there are 3 reasons.
The TOP 3 factors that will contribute to the recovery of prices:
The cryptocurrency, which is more than 300 times predicted the collapse and death, a very interesting future. Experts believe that the history of bitcoin is not yet completed, and should expect new highs.
21.05.2018: 5 factors that affect the price of bitcoin
The price of bitcoin has always had tremendous volatility. 2 months of 2017, the rate has increased by 223%, and just as easily fell by 60% in January-February 2018. What factors provoke the UPS and downs of the digital currency, and affect its value?
5 factors affecting the price of bitcoin:
Experts believe that due to the fact that a reduced amount of bitcoins will continue to grow demand for them. Many predict that by the end of 2018, the first cryptocurrency would cost $20 000.
04.05.2018: What you need to bitcoin reached a new high? TOP 5 issues currency
After 3-month drop, Bitcoin is gradually restored. Now bitcoin is trading at $ 9600-9700, but whether cryptocurrency to return to the same height?
The TOP 5 problems that need to be addressed:
In General, experts believe that the return of bitcoin to their previous highs – a question of time, and existing problems can be solved within a year.