BTC/USD still languishes under selling pressure following rejection at $11,000. Bitcoin buying power is still strong enough to keep the price above the 61.8% Fib level. Bitcoin continued with the uptrend as discussed yesterday after breaking above the hurdle at $10,800. A break occurred above $11,000 later forming a high around $11,097 (Fib swing high). Unfortunately, dwindling selling pressure led to a retreat from the levels above $11,000. The price dived back towards the resistance turned support at $10,400 but found balance at the rising trendline. BTC/USD has since rebounded above the 100 Simple Moving Average 15-mins as well as the 100 Exponential Moving Average (EMA) 15-mins. Trading at $10,696, the upside is limited by $10,800 broken support (50 SMA 15-mins). $11,000 remains a key resistance level and a breakout point in the near-term. Also Read: Libra outlines “a new fiat currency” attracting regulation says Ripples Brad Garlinghouse Technical indicators show that the bears have the upper hand. Downside correction is imminent with the Relative Strength Index (RSI) moving towards the oversold. The Moving Average Convergence Divergence (MACD) is holding onto the mean level (0.0) as an indicator that buying power is still strong enough to keep the price above the 61.8% Fib retracement level support at $10,600. BTC/USD 15-mins chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Eurozone: Exports increase by 1.4% in May – ING FX Street 4 years BTC/USD still languishes under selling pressure following rejection at $11,000. Bitcoin buying power is still strong enough to keep the price above the 61.8% Fib level. Bitcoin continued with the uptrend as discussed yesterday after breaking above the hurdle at $10,800. A break occurred above $11,000 later forming a high around $11,097 (Fib swing high). Unfortunately, dwindling selling pressure led to a retreat from the levels above $11,000. The price dived back towards the resistance turned support at $10,400 but found balance at the rising trendline. BTC/USD has since rebounded above the 100 Simple Moving Average 15-mins as well as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
