4-Hours chart
The relative strength index (RSI) is at the highest level since April 24, meaning the cryptocurrency is at its most overbought in nearly three months.
Hence, a break above $6800 might remain stable for another 24-hours or could be short-lived for the time being.
• BTC's corrective rally has gathered pace and prices could rise to $6,838 (neckline resistance) in the next day or two.
• A close (as per UTC) above $6,800 would confirm a short-term bearish-to-bullish trend change and would open the doors to $7,920 (target as per the measured height method).
• Only a daily close below $6,400 (20-day MA) would reach at the odds of Bitcoin rising to $6,838.
• A break below $5,755 (June 24 low) would revive the bearish view.
Congratulations @gamerzpark! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The results, the winners and the prizes
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit