Bitcoin Price Building Relief Rally, But Resistance Hurdles Await

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Tuesday, Jun 26 2018

Bitcoin Price Building Relief Rally, But Resistance Hurdles Await

Bitcoin (BTC) narrowly missed scaling a key resistance level on Monday, but remains on the hunt for a corrective rally, the technical studies indicate. The cryptocurrency flashed signs of bearish exhaustion yesterday, having defended the $6,000 mark over the weekend. As discussed, a close (as per UTC) above $6,250 (Doji candle high) yesterday would have likely set the tone for a stronger corrective rally.

While prices did reach a high of $6,341 yesterday, BTC closed (as per UTC) at $6,247. So, technically speaking, the short-term bull doji reversal is yet to be confirmed. However, a rally may still be on the cards, as prices are holding well above the key support of $6,000 (February low) and the indicators have diverged in favor of the bulls. On the other hand, stiff resistance lined up in the $6,400–$6,800 range could complicate the recovery. At press time, BTC is trading at $6,220 on Bitfinex, having clocked a high of $6,281 earlier today.

Source: coindesk.com

More in this category: « China's Yuan drops to lowest since December 28 Brexit is killing investment in UK car industry »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.