Hope we all are staying safe. Bitcoin has moved sideways for too long. Last week bitcoin posed a climb but got stopped at $7,392. Now bitcoin price is at $6,874 and may drop below $6,834 soon. It’s not safe trading now with this sideways movements. We are looking for a steady movement above the 200EMA. The MACD is moving downwards and this means a shift downwards. I will advise we wait for the price to move above $7,392 for the net upward move to be valid.
Looking at the technical indicators:
Major Support Level – $6,834
Major Resistance Level – $7,392
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