(03 JULY 2018)Bitcoin / Dollar:As long as 6429 is support look for 7107

(03 JULY 2018)Bitcoin / Dollar:As long as 6429 is support look for 7107

3 July 2018, 14:10
Jiming Huang
0
81

btc

As long as 6429 is support look for 7107

By Swissquote TRADING CENTRAL) 

Our pivot (invalidation) point stands at 6429.

Our preference

As Long as 6429 is support look for 7107.

Alternative scenario

The downside breakout of 6429 would call for 6177 and 6027.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just

overbought and therefore bound to correct (look for bearish divergence in this case). The

MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is above

its 20 and 50 MAs (respectively at 6623 and 6499).

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