Coindesk June 25th market analysis

2018-06-26 10:30:20source:depth154

If the volume breaks through the drop channel, it is expected to push the price to $7700.

The price of BTC is more than $6000, and it is still rising, but this week's BTC trend still depends on today's closing price.

According to Bitfinex's data, BTC fell to $5755 at 15:00 on Sunday (UTC time), the lowest level since November 12th - but then BTC quickly recovered to more than $6000.

In spite of the long run of the market, the empty head has failed to fully control the situation, indicating that the gap is weak; in the past seven weeks, BTC prices have fallen by more than 40% (from $9990 to $6000).

Therefore, the market may soon rebound, and of course it all depends on today's closing price (UTC time).

As of press release, BTC temporarily reported $6150, rising 24 in 24 hours.

微信图片_20180625190536.png

BTC created cross star on Sunday, which usually indicates that the market is hesitant (air to air). However, if the May high of 9990 US dollars dropped by 40%, the cross star on Sunday might represent a weak spot.

If BTC closes at more than US $6250 today (Sunday's Cross Star High), it will mean a bullish trend and a marked rebound in the market.

In addition, the relative strength index (RSI) has begun to tilt towards the bull: Despite the low price, it has created a higher low. Therefore, today's aggressive price action will also confirm a bullish divergence.

If bullish crosses and bullish divergence are confirmed, it will increase the chances of a breakthrough in the down channel.

Although the short-term outlook is still bearish, while BTC is in a downward trend (bearish mode), short-term charts are indeed conducive to BTC rebound.

微信图片_20180625190541.png

Bullish divergence has increased confidence in Sunday's bullish cross star, and heralded that BTC could close above $6250 today, all of which will confirm bullish Cross stars.

Main points:

If today's closing time (UTC time) is more than $6250, BTC may be more active in the rest of the week; in this case, the BTC price may test the downside resistance - $6800, which is expected to drop to $6600 by Friday;

If the volume breaks through the down channel, it is expected to push the price to $7700.

If the closing price (UTC time) is below $6000 (low February), the price may further fall to $5090 (the downward wedge of the wedge rises).


author:Omkar Godbole edit:公孙潘

  • BTC/ BTC
  • $6,500.90
  • ETH/ ETH
  • $230.53
  • XRP/ XRP
  • $0.53
  • BCH/ BCH
  • $536.96
  • LTC/ LTC
  • $60.14

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