BTC/USD has also butchered another support $6,200 during Thursday Asian trading hours. Trading below $6,000 is beckoning unless support above $6,100 is maintained. Bitcoin price is spiraling downwards and this time, the downside seems unstoppable. It broke the support at $6,400, while the nest support target at $6,300 failed to stand ground during the trading on Wednesday 11. BTC/USD has also butchered another support $6,200 in the course of the Asian trading hours on Thursday. Bitcoin is down over 3% on the day while the decline appears as though it will continue into the European trading hours. The 200 SMA has crossed above the shorter term 50 SMA signaling that the selling activity will continue. Moreover, the Relative Strength Index (RSI) on the 2-hour chart is advancing deeper into the oversold territory while the Stochastic on the same chart is heading south. A trend reversal is overdue following the extended intraday declines to avoid further losses. The battered Bulls are must hold ground above $6,100, however, a slide below $6,000 is beckoning. At the time of press, the BTC/USD is trading slightly above $6,170, but there is a sharp decline in progress. As covered in the analysis yesterday, the price broke down from the rising wedge pattern that was supported at $6,300. Read more on Bitcoin price analysis BTC/USD 2-hour 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 ECB: Governing council split on the timing of first hike – Danske Bank FX Street 5 years BTC/USD has also butchered another support $6,200 during Thursday Asian trading hours. Trading below $6,000 is beckoning unless support above $6,100 is maintained. Bitcoin price is spiraling downwards and this time, the downside seems unstoppable. It broke the support at $6,400, while the nest support target at $6,300 failed to stand ground during the trading on Wednesday 11. BTC/USD has also butchered another support $6,200 in the course of the Asian trading hours on Thursday. Bitcoin is down over 3% on the day while the decline appears as though it will continue into the European trading hours. The 200 SMA… 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.
