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Bitcoin

Cryptocurrencies

Bitcoin remained in the negative ground. Sellers touched the level 6200, but failed to regain it. The crypto currency found fresh bids and bounced to 6300 afterwards. The buying momentum did not last long and soon sellers regained controlled and revisited the 6200 handle. The spot again bounced off the level and headed towards 6250.   The moving averages are moving downwards. MACD continued decline in the negative territory. Stochastic bounced off the oversold readings. The resistance stands at 6300, the support can be found at 6200.


The technical structure suggests further downside pressure. Sellers are likely to attack 6200 in the coming sessions. Having overcome this target the price might go downwards to 6100.


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