Bitcoin (BTC) price survived another downtrend on June 7 as bulls bought the dips. On June 7, the bears broke the 21-day line SMA, as Bitcoin fell to the low of $29,174. Bulls immediately bought the dips as Bitcoin rallied above the 21-day line SMA. Buyers will try to retest or break the high at $32,407.
ביטקאָין (בטק) פּרייַז לאַנג-טערמין פאָרויסזאָגן: בעריש
A break above the $32,407 high will send the BTC price above the 50-day line SMA. If buyers maintain the bullish momentum above the 50-day line SMA, the market will continue to rise towards the previous highs. Meanwhile, BTC/USD is trading above the 21-day line SMA, but below the 50-day line SMA. The bottom line is that Bitcoin will resume the trend when the range boundaries of the moving average lines are broken and the price momentum is maintained. At the time of writing, the largest cryptocurrency is trading at $30,385.30.
Bitcoin (BTC) indicator display
Bitcoin is at level 46 of the Relative Strength Index for period 14, indicating that Bitcoin has fallen into the bearish trend zone. The price of the cryptocurrency is above the 21-day line SMA and below the 50-day line SMA, indicating a possible movement within a trading range. Meanwhile, Bitcoin is below the 80% area of the daily stochastic. The market is in a bearish momentum.
טעכניש ינדאַקייטערז:
שליסל קעגנשטעל לעוועלס - $ 50,000 און $ 55,000
שליסל שטיצן לעוועלס - $ 40,000 און $ 35,000
וואָס איז דער ווייַטער ריכטונג פֿאַר בטק / וסד?
Today, Bitcoin rallied above the psychological price level of $30,000. About 48 hours ago, the bears pushed the cryptocurrency to the low of $29.174. The price range between $28,600 and $32,407 will begin if the current support holds. Moreover, the bulls have been consistently defending the current support since the price collapse on May 12.
אָפּלייקענונג. די אַנאַליסיס און פאָרויסזאָגן זענען די פערזענלעכע מיינונגען פון דעם מחבר און זענען נישט אַ רעקאָמענדאַציע צו קויפן אָדער פאַרקויפן קריפּטאָקוררענסי און זאָל ניט זיין וויוד ווי אַן ענדאָרסמאַנט דורך CoinIdol. לייענער זאָל טאָן זייער פאָרשונג איידער ינוועסטינג געלט.
Source: https://coinidol.com/bitcoin-sideways-movement/