Crypto-currency market: bitcoin is in the oversold zone

The pair BTC/USD trades in a row with a decrease in correction after growth for the second week. As a result, bitcoin returned under the psychological mark of 7000.000, from which, according to the theory of waves, it is worth considering purchases. This is also confirms with the oversold of the pair. So, with a return above 7000-7200.000 from the pair BTC/USD one should expect a test of resistance level 7400.000 and 7600.000. The support levels are the marks: 6700.000 and 6580.000.

BTC/USD chart. Current price – 6900.000

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Andre Green

Earn with the help of the trade service on the news Erste News!

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