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