BIC btc price drop bear.jpg.optimal.jpg.optimal Bitcoins (BTC) Short-Term RSI Gives Bearish Signal

Bitcoins (BTC) Short-Term RSI Gives Bearish Signal

-BTC has been consolidating just below the $30,500 area over the past five days.

-The price will not be successful in moving above the area, rather it will break down prior to potentially making another breakout attempt.

-BTC has been decreasing since it broke down from an ascending parallel channel on May 5.

-The daily RSI supports the resistance at $30,500 since it is following a descending resistance line that aligns with this level.

-The six-hour chart shows that BTC has broken out from a descending resistance line, which had previously been in place since the aforementioned May 5 breakdown.

-Despite this movement, the two-hour chart suggests that a breakdown is likely.

 

 

BIC btc price drop bear.jpg.optimal.jpg.optimal Bitcoins (BTC) Short-Term RSI Gives Bearish Signal
Bitcoins (BTC) Short-Term RSI Gives Bearish Signal 3

Leave a Reply