Update on Bitcoin. BTC-USD on July 12, 2018

July 13, 2018


Now the market looks warning on 12h timeframe. RSI is losing the impulse strength and MACD indicating the further fall, also, we are consolidating below 6200 zone which is a very bad sign. It is possible to fall down further. Anyway, there are not enough proof-points for the more positive scenario besides the correction of the fall as a small bounce not higher than 6450 level. The support below meets us at 5900, which showed up as a reverse level (on small timeframes) and can reflect the further fall again, but if the bears will be stronger and the market steps down, we need to consider the trading strategy on lower levels.

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