BTCUSD Daily Chart update - June 12, 2018

https://www.tradingview.com/x/Yd7XtyHJ/

On the last daily update I mentioned that the best opportunity for a trade will be once we break the range $7,350 - $7,800. We broke to the downside for a quick $600. The price stopped at the TD support line as well as the area of the previous lows in April around $6,600. MACD crossed down again after a slow 9 day uptrend. RSI got to oversold quickly. Price went outside of the Daily BB band and trying to get back inside today. After some consolidation we should see another move. On the upside we could bounce up to the $7,100-$7,150 level. On the downside a break bellow the current lows will take us to the $5,900-6,000 level.
Fundamentally I am expecting some kind of news of a big implementation on the BTC network as a catalyst for the new bull market starting sometimes this summer.

Weekly: Down

Daily: Down

4 hour: Up

1 hour: Netural

Prediction for the day

Price will advance to test the $7,100 - $7,150

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