2018-7-10 17:14 |
The leading cryptocurrency looked vulnerable to a pullback 24 hours ago, courtesy of the signs of bullish exhaustion near key resistance of $6,800.
It is worth noting that the short-term moving average is still biased to the bulls (rising).
So, as discussed yesterday, a strong defense of the 10-day MA support would reinforce the short-term bullish outlook and could yield a rally to $7,000.
That said, the probability of BTC closing below the 10-day MA is quite high as the short duration charts have already turned bearish.
The bulls may build steam for a fresh move higher towards $7,000 if BTC closes above 10-day MA today.
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