Our BTC forecast made a few days ago is coming true, as the the coin is moving to expected $7,575. There is no fundamental reasons of today market dump; traders just fix their profits.
On the hourly chart, it is noticed, that the quotes are located in the descending channel from May 20. Currently, the main crypto is trading between support level at $7,500 and resistance one at $8,000. We can expect a decline up to $7,500 in a few days, as the trading volume keeps stagnating at one place. Hopefully, BTC will not go below $7,500, because the RSI indicator is near the oversold zone.
On the hourly chart, it is noticed, that the quotes are located in the descending channel from May 20. Currently, the main crypto is trading between support level at $7,500 and resistance one at $8,000. We can expect a decline up to $7,500 in a few days, as the trading volume keeps stagnating at one place. Hopefully, BTC will not go below $7,500, because the RSI indicator is near the oversold zone.
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