Crypto-currency market: bitcoin is preparing for decline

The BTC/USD pair, after updating the maximum at the level of 6700-6800.000, has moved to a decline,  indicating the preservation of a downtrend on this instrument. The fixing below 6400.000 will confirm keeping of the downward trend and will open the way to the support levels: 6100.000 and 5900.000. Resistance levels are: 6600.000 and 6700.000.

BTC/USD chart. The current price is 6500.000.

 

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

Andre Green

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