Bitcoin slipped below $6000 - What's the next support? - Forex News by FX Leaders

Bitcoin slipped below $6000 – What’s the next support?

Posted Tuesday, August 14, 2018 by
Arslan Butt • 1 min read

Bitcoin was holding above the psychological support level of $6,000, extending bulls’ hopes that the pullback is still expected. But just now, the BTC/USD has slipped below $6,000 to place a low of $5,858.

BTC/USD - 240 Min Chart

As you can see, the crypto pair is following a strong bearish trend as the 100 periods moving average is supporting the selling bias. Now, the bearish channel on the 4- hour chart is likely to extend support near $5,775. While on the upper side, the BTC can face resistance near $6,140.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of