Published on June 14th, 2018 | by bitcoin0
Prices Stabilize Above 6k On Bitcoin – Unsure If Will Be Safe
Bitcoin (BTC) has made a 6 percent recovery from the 90-day low hit on Wednesday, neutralizing the immediate bearish outlook.
Hence, the subsequent recovery to $6,500 levels currently is hardly surprising and indicates that bitcoin may have found a temporary bottom around $6,100.
However, long-run technical setup remains bearish and the battered bulls will want to see a stronger evidence of bear exhaustion before hitting the market with fresh bids.
While prices fell to $6,108 yesterday, the RSI created a higher low, signaling a bullish divergence.
A daily close (as per UTC) below that level would open up downside towards the $5,000 mark.