Bitcoin Price Weekly Update: 29th June – 5th July 2020

Welcome to another new week where June winds up and July sets in.
This week we got a confirmation of the beginning of the downtrend of bitcoin price. This is where you sell bitcoin for fiat. Nevertheless, I don’t expect bitcoin price to drop too low.
The white trend line has been respected by price over and over again and now we see a retest at $9,300 before the price diving. 
What we must do is to be observant and buy the oversold regions. For instance, bitcoin price moved dropped to $8,800, an oversold region and spiked to $9,131. That is a 3.7% profit there. 
I believe the next oversold region should be $8,428 before the next spike. 
Also, the MACD cross can help you know the next spike.

• • Major Support Level – $9,411
  • Major Resistance Level – $9,913

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If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.