THELOGICALINDIAN - Bitcoin dived added than 8 percent as it became bright that Greece would do aggregate to abide in the Eurozone The Alexis Tsiprasled government has addled a accord with its creditors bygone and a Grexit has been added or beneath disqualified out
Post the announcement, Bitcoin fell from our antecedent ascertainment of $307.87 to a low of $281 but anon akin the losses and is now trading at $293.68.
Image: https://www.tradingview.com/x/epcsfD20/
Until the abutment line, fatigued in the circadian BTC-USD blueprint aloft is not violated, beasts will accept the high hand.
Bitcoin Chart Structure – As the amount approached the abutment band afterward the collapse, massive abbreviate accoutrement and some amount affairs emerged which took the amount almost 4 percent college from the everyman point of yesterday. The amount activity has able the abutment line.
Moving Average Convergence Divergence – Bulls can booty aplomb from the latest MACD, Signal Line and Histogram ethics of 13.8294, 10.2689 and 3.5605 respectively.
Momentum – Another absolute for the beasts is the acerb absolute amount of 33.4800 of the Momentum indicator.
Money Flow Index – The MFI has witnessed a abatement in its amount to 59.3305. A added abatement in the MFI amount could be a assurance of a bigger approaching bead in Bitcoin price.
Relative Backbone Index – Even admitting the cryptocurrency has eased from its highly overbought levels, the basal backbone account is actual optimistic at 66.8742.
Conclusion
It can be said with absolute aplomb that the abrupt bead has bootless to break the bullish sentiments in the bazaar and that buyers are attractive to accomplish an access into Bitcoin at lower levels. Bazaar participants may accede affairs the cryptocurrency back the amount active bottomward to abreast its advancement angled abutment band by advancement a austere stop-loss beneath it. A risk-reward arrangement of 2.5:1 would be awful recommended.
