Is the bottom in for Bitcoin? Don't be so sure if one key trend line fails, warns CryptoMichNL.
Down nearly 3% versus the weekend’s highs, the pair looked weak as key support lines inched closer.
“Bitcoin is going to get another retest of support at the 200-Week MA ,” Keith Alan, co-founder of monitoring resource Material Indicators, warned in commentary on the weekly chart. “Bitcoin is, still, stuck in the range-bound area where $26,600 is the important area to hold,” Michaël van de Poppe, founder and CEO of trading firm Eight, told Twitter followers on the day.
Commenting on Alan's findings, it argued that the United States Federal Reserve decision on interest rates due June 14 would be the ultimate"do or die" moment.
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