The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000. – Bitcoints

bitcoin

Published on June 11th, 2018 | by bitcoin

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The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000.

The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000.The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000.
Either way, the technical studies now spell trouble for bitcoin.
The convincing move below $7,000 marks a downside break of the four-month-long narrowing price range and has opened the doors for a drop below $6,000 (Feb. 6 low).
4-hour chart

The extreme oversold conditions as shown by the relative strength index could put a temporary bid under bitcoin.
Only a daily close (as per UTC) above the 10-day MA, currently located at $7,444, would abort the bearish view.

Source: Www.coindesk.com

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