11 July 2018

Overview of the cryptocurrency market. The next attack of the bears

The BTC still did not draw a line of bullish tendency after a couple of growing weeks. Recall that the preconditions for growth previously appeared on the technical indicators. The level at which the main cryptocurrency has stopped is clearly not a reversal. Open a buy position from the value of $6 329 - to expose the capital to a serious risk, because the fall down is likely to continue.

Digital gold could not break the $6 850 level, which was previously the high in the short term. However, the bears gave a false hope to the bulls for a reversal last week. The ideal balance of events for investors is the rollback of BTC to the support level of $ 6 000 and $6 152, where later the turn would begin. This area of purchase is perfect for conservative investors. Supports are smaller, on which the turn might happen is $6 479 and $6 298. But it is already clear that they no longer work out. The important resistance levels on BTC's chart are $7 000, $7 377 and $7 780. Of course, in this market it is more like a fantasy, but a rise above the allocated levels will give an opportunity to grow to $ 0 000. After this event, large areas for trading will open.

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