![The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000.](http://bitcoints.com/wp-content/uploads/2018/06/The-bitcoin-market-has-come-alive-in-the-last-36-hours-with-the-bears-gaining-the-upper-hand-and-now-aiming-for-fresh-2018-lows-below-6000.jpg)
2018-6-11 15:43 |
The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000.
Either way, the technical studies now spell trouble for bitcoin.
The convincing move below $7,000 marks a downside break of the four-month-long narrowing price range and has opened the doors for a drop below $6,000 (Feb. 6 low).
4-hour chart
The extreme oversold conditions as shown by the relative strength index could put a temporary bid under bitcoin.
Only a daily close (as per UTC) above the 10-day MA, currently located at $7,444, would abort the bearish view.
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