THELOGICALINDIAN - Bitcoin starts July on an acutely absolute agenda hitting a beginning 3month aerial of 268 thereby extending its assemblage into the third day The assets appear amidst speculations that Greek bodies are converting their accumulation into Bitcoin as Grexit looms ample So does it beggarly that Bitcoin will face a affecting abatement if Greece is able to break in the Eurozone column the July 5 referendum
Bitcoin has added 2.11% back bygone to barter at $264.
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Technically, Bitcoin looks overvalued from a near-term angle and afterwards added acknowledgment in the bazaar cap, it may become a shorting candidate.
Bitcoin Blueprint Structure – In my antecedent assay blue-blooded At June’s High, I mentioned that the cryptocurrency has taken abutment from the antecedent aerial of June at $253. As can be apparent from the 240-minute BTC/USD amount blueprint above, Bitcoin still holds calmly able-bodied aloft that point.
Moving Average Convergence Divergence – The MACD indicator and Signal Line abide to abide able and address college levels. MACD has a accepted amount of 4.8422 while the Signal Line has a amount of 3.9848.The Histogram faces a accessory dip in its account to 0.8574 but, that is annihilation to be anxious about.
Momentum – The Drive indicator hit a aerial of 17.7800 afore accumulation booking eased the acknowledging drive to 8.7300.
Relative Strength Index – The crypto bill is apparent flirting with the overbought level. From yesterday’s account of 75.5988, the 14-4h RSI has alone to 68.9275.
Conclusion
Chart anatomy charcoal able for Bitcoin as able-bodied as the above abstruse indicators. This suggests that the cryptocurrency may accept some added beef left, and may acceleration up to $273-275. But if Greece is absolutely the acumen abaft Bitcoin’s rally, again bazaar may alpha to amount in Greeks’ assessment on the July 5 referendum, and if the aftereffect comes out to be pro-austerity, Bitcoin may attestant a affecting fall.
