Bitcoin Price Technical Analysis for 06/23/2016 – Heads Up for Extra Volatility!

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Bitcoin Price Key Highlights

  • Bitcoin cost is still in improvement mode, relocating on to a lowest Fib on it daily time frame.
  • Price appears to be anticipating support during a 61.8% Fibonacci retracement as a prolonged spike formed.
  • If bulls get behind in a game, bitcoin cost could resume a stand to a pitch high during $775.

Bitcoin cost is still pulling behind from a new clever rallies, relocating closer to a rising trend line on a daily chart.

Technical Indicators Signals

The 100 SMA is still above a 200 SMA for now, confirming that a uptrend is expected to lift on. However, RSI and stochastic are both on a pierce down so bitcoin cost could keep streamer south as bears stay in control.

A incomparable selloff could final until a rising trend line joining a lows on a daily time frame. This lines adult with a 100 SMA, that competence reason as a energetic support level. It also coincides with a former insurgency turn that could now reason as support around $450-500.

For now, profit-taking appears to be in play while risk ardour has shown a lapse in other financial markets. Traders competence be engagement their gains on their new risk-off positions now that a EU referendum

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