Recently, Bitcoin has been trading downwards. The price tested the level of $6.420. According to the H1 time — frame, I found a breakout of the upward trendline in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on MACD oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $6.220 and at the price of $5.767.
$6.770 Intraday resistance; $6.220– Intraday support; $6.220 – Objective target 1;$5.767 — Objective target 2;
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.