Technical analysis on Bitcoin for June 15th, 2023.
June 15, 2023 1:26 pm
Red lines- bearish channel
Bitcoin remains in a short-term bearish trend. Price continues making lower lows and lower highs inside the red downward sloping channel. Price is now trading below $25,000, which was our target after the recent rejection at the upper channel boundary. Bitcoin remains vulnerable to more downside as the RSI is below 50, with a negative slope and still not inside oversold territory. Resistance is found at $26,975 and as long as we trade below this level, short-term trend will remain bearish.
The material has been provided by InstaForex Company – www.instaforex.com
Red lines- bearish channel
Bitcoin remains in a short-term bearish trend. Price continues making lower lows and lower highs inside the red downward sloping channel. Price is now trading below $25,000, which was our target after the recent rejection at the upper channel boundary. Bitcoin remains vulnerable to more downside as the RSI is below 50, with a negative slope and still not inside oversold territory. Resistance is found at $26,975 and as long as we trade below this level, short-term trend will remain bearish.
The material has been provided by InstaForex Company – www.instaforex.com
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