Conditions For Bitcoin to Grow
June 29, 2018
Robert Sluymer, analyst at Fundstrat, is convinced, the major cryptocurrency needs to get minimal cost of $6,300 soon to revert the negative trend present today on the crypto market.
Basing on a two-week analysis of the moving average BTC rate in May this year the analyst noted that critical stop line for short traders equals to $5,800 with resistance being $6,400. So if Bitcoin will make it and go beyond $6,300 it is likely to continue growing again just like other cryptocurrencies.
Note that at the moment of this article being written BTC rate is $5,900 which is 10$ lower than the rate of the previous week and 16% lower than that in May.