FX.co ★ Bitcoin analysis for July 05, 2018

Trading recommendations:

Recently, Bitcoin has been trading sideways at the price of $6.573. According to the H1 time - frame, I found that price is trading in the upward channel but I also found a hidden divergence on the MACD oscillator, which is a sign of weakness. My advice is to watch for a potential breakout of the channel to confirm a further downward movement. The downward targets are set at the price of $6.233 and at the price of $5.765.

$6.754– Intraday resistance; $6.473 – Intraday support; $6.233 – Objective target 1;$5.765 - Objective target 2

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