Bitcoin Price Technical Analysis – Bulls Ready to Charge Again?

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Bitcoin Price Technical Analysis

  • Bitcoin cost done a clever swell on Friday as a UK voted to exit a EU.
  • This could meant an extended duration of doubt in a financial markets, lending some-more support for choice resources like bitcoin.
  • Price appears to be sketch support from a 50% Fibonacci retracement turn on a 1-hour time support and a rising trend line can be drawn to bond a lows given Jun 22.

Bitcoin cost appears to be pulling adult from a post-Brexit swell though a short-term uptrend could sojourn intact.

Technical Indicators Signals

The 100 SMA is next a 200 SMA on this time frame, signaling that a trail of slightest insurgency competence be to a downside. A mangle next a trend line and 61.8% Fibonacci retracement turn could endorse that serve waste are in a cards, paving a approach for a most incomparable improvement for bitcoin price.

RSI is impending a overbought region, indicating that bullish vigour could break shortly and concede sellers to take over. Stochastic is also nearby a overbought area and a downward pierce could pull some-more bears to a game.

On a other hand, if bulls continue to pull higher, bitcoin cost could resume a stand to a pitch high during $685 and

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