Bitcoin Technical Overview:
Key Resistance: $6280 - $6340 - $6392 - $6450
Key Support: $6230 - $6170 - $6116 - $6036
Technical Indicator:
RSI: RSI lacks upside momentum, in chart dotted red line is strong resistance for XAUUSD.
MACD: Indicator having strong seller volume.
Moving Avg: SMA50 ($6388.41) & SMA20 ($6434.35) strong resistance for the day (4H Chart).
Most Likely Scenario Short Below $6400 with target $6150 - $6036 in extension.
Alternative scenario Long Above $6400 with target $6465 - $6520 in extension.
Overall, Cryptocurrency market value dropped back below $200B, Bitcoin has returned to critical support level created by $6,100-$6,200. Once it is cleared, the decline may be extended.
Thanks
YoCryptoManic
Key Resistance: $6280 - $6340 - $6392 - $6450
Key Support: $6230 - $6170 - $6116 - $6036
Technical Indicator:
RSI: RSI lacks upside momentum, in chart dotted red line is strong resistance for XAUUSD.
MACD: Indicator having strong seller volume.
Moving Avg: SMA50 ($6388.41) & SMA20 ($6434.35) strong resistance for the day (4H Chart).
Most Likely Scenario Short Below $6400 with target $6150 - $6036 in extension.
Alternative scenario Long Above $6400 with target $6465 - $6520 in extension.
Overall, Cryptocurrency market value dropped back below $200B, Bitcoin has returned to critical support level created by $6,100-$6,200. Once it is cleared, the decline may be extended.
Thanks
YoCryptoManic
Trade active:
Bitcoin looking more down side privilege, if it breaks strong support $6230.