Bitcoin trends turns bearish following an extended stability period. BTC/USD finds support at $6,200; buyers push for gains heading to $6,300. The stability in Bitcoin price has finally hit a dead end resulting in a brief waterfall move. The bearish move is a welcome gesture that investors can start to see some price movements in the coming months. Moreover, the low trading activity have led to reduced daily transaction levels in Bitcoin. In the earlier published analysis, Bitcoin was pivotal around $6,400 with a support at $6,380 and a cap at $6,460 to the upside. The price was limited in an approximately $300 range leading to extended stability that was great for the maturity of the market but at the same time unwelcomed to the speculators and traders in the market. The bearish move on Monday has witnessed more than 2% loss in value from the intraday highs marginally above $6,410. The above mentioned support at $6,380 failed to stop declines, besides the losses were unstoppable at $6,300. Bitcoin formed a low at $ 6208.53 giving buyers an opportunity to enter. A pullback is underway towards $6,300, although the price is flirting with $6,272. The RSI is currently making its way out of the oversold but the MACD shows that the bears still have the control. BTC/USD is inclined to correct lower in the short-term. However, if the bulls can find a support above $6,300, Bitcoin will embark on an upwards move towards $6,400 (broken support). BTC/USD 15′ 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 EUR/JPY Technical Analysis: Bearish view unchanged below 132.47 FX Street 4 years Bitcoin trends turns bearish following an extended stability period. BTC/USD finds support at $6,200; buyers push for gains heading to $6,300. The stability in Bitcoin price has finally hit a dead end resulting in a brief waterfall move. The bearish move is a welcome gesture that investors can start to see some price movements in the coming months. Moreover, the low trading activity have led to reduced daily transaction levels in Bitcoin. In the earlier published analysis, Bitcoin was pivotal around $6,400 with a support at $6,380 and a cap at $6,460 to the upside. The price was limited in… 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.
