Bitcoin Slides Lower, Approaching $7k | Bokka
Subscribe Telegram

Bitcoin Slides Lower, Approaching $7k

Psychological support at $8k is broken as BTC loses over $1k in a week.

BTC/USD

Bokka Crypto Technical Analysis BTC/USD 29.05.18

Daily Review

Bitcoin continues to drift down, making a short-lived attempt to move upside on May 26.
On Saturday MACD crossed above the zero line showing a weak, short lived BUY signal, so it was not acted upon.
Currently, BTC continues to move lower touching $7,000.
We expect to see new lows in coming days, where Bitcoin will meet strong support levels around $6,000 – $6,500.
These levels can be considered as a good buying opportunity.

Trading Status

Currently, we are out of the market after closing our long position at $8,290 by trailing stop.
Now we continue to monitor the market situation and wait for new BUY signals below $7000.

Market Parameters

Previous Day Close = $7,135
All-Time High = $20,089 on December 17th, 2017
Current Drawdown from ATH = -64%
Trailing 12 Months Return = 230%
Year-To-Day Return = -49%

Back to Blog