BITCOIN Analysis for June 29, 2018

Today Bitcoin has reacted quite well as expected leading to definite impulsive bearish pressure trying to break out of the corrective range it formed since it broke below $6,500 area with a daily close. After the recent hacking activities, there has been uncertainty going on the market which leads market participants to deviate from their investments. Currently, the price is expected to push lower with a confluence of the non-volatile bearish trend and dynamic levels. As of the current scenario, the price is expected to push lower with the target towards $5,000 in the coming days and as the price remains above $6,500 area with a daily close, the bearish bias is expected to continue further.


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