BITCOIN Analysis for June 26, 2018

Bitcoin has been corrective and low on liquidity recently after breaking below the $6,500 area. The trend is still bearish and quite non-volatile but being on low liquidity does seem to worn out the market momentum a bit. No definite pressure on bullish and bearish side has been observed till now but as of the current market formation, the price is expected to push higher towards $6,500 to retest and reject with impulsive bearish pressure with target towards the $5,000-5,500 area. Additionally, Bullish Divergence developing recently is expected to push the price a bit higher before the bearish trend continues to push impulsively lower in the coming days. As the price remains below the $6,500 area with a daily close, the bearish bias is expected to continue further.

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