Bitcoin (BTC) riskler anahtar destek seviyesine düşen $6,900, having failed to capitalize on signs of weakening bearish momentum yesterday.
The cryptocurrency's technical charts testere a doji candle on Sunday, signaling short-term bearish exhaustion. ancak, a corrective rally remained elusive as bitcoin ran into offers above $7,400 and closed (as per UTC) en $7,143 – the lowest daily close since April 12, according to Bitfinex.
The bearish outside-day usually indicates a bullish-to-bearish trend change. ancak, when viewed against the backdrop of Sunday's doji candle, the bearish outside-day signals revival/continuation of the sell-off from the May 5 high of $9,990.
göreceli güç endeksi (RSI) has dropped to 30.00, indicating oversold conditions.
Göre historical data, bitcoin climbs every time the RSI on the daily chart drops to or below 30.00. ancak, the historical pattern may not come into play this time, as BTC's long-term technical studies have turned in favor of the bears.
Örneğin, the weekly RSI is below 50.00 (in the bearish territory). Daha ileri, BTC recently closed below the 50-week MA for the first time since 2015, adding credence to the argument the long-run bull market is over. o esnada, the 5-month and 10-month MAs are beginning to slope downwards in favor of the bears.
Sonuç olarak, it's likely that BTC will drop to $6,900 (triangle support) soon – although it may not happen in the next 24 hours as the short-duration chart shows a temporary bullish setup.
BTC has created lower lows in the last 48 saatler, but the RSI has not followed suit – a bullish divergence that indicates scope for a minor corrective rally.
BTC will likely drop to $6,900 (triangle support). This is the last line of defense for the bulls. A daily close (as per UTC) below $6,900 would open the doors to $5,400 (Kasım 2017 düşük).