The price of bitcoin continues to fall. On the lines connecting the peak and bottom marks, you can see that the bears are now predominant.

The 100-hour average sliding slipped below 200 hours, which indicates that the path of least resistance lies through the bottom, and the bearish trend will continue rather than change to a bullish one. The rate also fell below the 50-hour average moving average, hinting at the increasing pressure of the bears.

However, the relative strength index and the stochastic oscillator returned to the overbought zone, signaling that the general forces of the bears are not so great, and the bulls can still try their luck. If these two indicators go up, you can expect a turn towards the bulls.

In case this happens, the bulls can again try to return the heights of the previous weeks or at least pull the price above the inflection points of 100 and 200 hour moving averages. Bitcoin has many barriers to growth, so predicting the exact movement is difficult, but most experts are convinced that the rate of the first crypto currency will drop to $ 6000, and then it will grow to $ 12,000.

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04.06.2020, 05:08