BTC/USD is about to break above Andrew’s pitchfork upper line Muted reaction to Bithumb hack may signal a change of sentiments. BTC/USD reached a strong resistance at $6,750, created by an upper line of Andrew’s pitchfork. Breaking above this line, BTC will effectively threaten the bearish trend that has been developing since the beginning of May and eaten over 30% of its value. At the time of writing, BTC/USD is changing hands at $6,725, mostly unchanged since the start of the day, but 1% higher on daily basis. While the break through the above-said resistance might lead to a strong upside movement, it is not clear what can become a trigger. The latest cryptocurrency market developments signal that traders tend to see the glass half empty, however, the sentiments will change once the price breaks above technically important level. At the same time, muted reaction to Bithumb hack may also signal a change of heart. If Bitcoin fails here again, the downtrend will gain traction. Bears will get motivated to push the price to $6,135 (June 13 low) and below $6,000. BTC/USD, the daily 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 BoE Preview: 5 Major Banks expectations from June meeting FX Street 3 years BTC/USD is about to break above Andrew's pitchfork upper line Muted reaction to Bithumb hack may signal a change of sentiments. BTC/USD reached a strong resistance at $6,750, created by an upper line of Andrew's pitchfork. Breaking above this line, BTC will effectively threaten the bearish trend that has been developing since the beginning of May and eaten over 30% of its value. At the time of writing, BTC/USD is changing hands at $6,725, mostly unchanged since the start of the day, but 1% higher on daily basis. While the break through the above-said resistance might lead to a… Top 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.
