FX.co ★ Bitcoin analysis for June 15, 2018

The Bitcoin (BTC) has been trading upwards.The price tested the level of $6.671. Taxpayers in Russia have started declaring incomes and profits from crypto transactions even before cryptocurrencies are legalized in the country, results from this year's tax campaign show. The Finance Ministry has again clarified the applicable tax rules, while the State Duma is still fine-tuning the upcoming regulations. The technical picture on Bitcoin looks bullish.

Trading recommendations:

According to the H1 time - frame, I found a rising trednline in the background, which is a sign that intraday buyers are in control. I also found a hidden bullish divergence on the MACD oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $6.874.

Support/Resistance

$6.670 – Intraday resistance

$6.495– Intraday support

$6.874– Objective target

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