Bitcoin (BTC/USD) with a negative tone for the coming days

Bitcoin (BTC/USD) with a negative tone for the coming days

Thursday was also a day where bears dominated the price action in the cryptocurrency and now it seems that the spotlights are pointing towards the Fibonacci level of 78.6% in 7033. The 50-period moving average continues to exercise as dynamic resistance across the board, so the current structure could be maturing soon.

It is necessary to remember that the Parabolic SAR continues to be in favor of the bearish trend, which suggests more falls for the next few days. The MACD indicator continues in negative territory, favoring the bears for the time being, while the RSI is in an oversold zone, which could be a sign that a bullish rebound is imminent.

What do we expect?

According to our forecasts in the short-term, Bitcoin follows the bearish path and is projected to reach the Fibonacci level of 78.6% in 7033. There we expect a rebound to take place to resume the upward trend and thus be able to point towards the highs of the 4 of May in 9837. If the level of 7033 comes to give in front of the bears, the fall could extend to the level of 6270.



Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

Deposit with your local payment systems

Learn more


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera