BTCUSD Daily Chart update - June 6, 2018

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

Recent advance was unable to break above $7,800 and retested support at $7,350. Right now price is in the middle of this range. For the last 3 days price was held by the middle of the Bollinger Band. MACD is trending up, but bellow 0. The best opportunity for a trade will be: Long above $7,800 or Short bellow $7,350. A break above $7,800 will also break the downtrend line from the all time high. That said there is a lot of resistance above from the 50 day EMA, 200 day EMA and the cloud. On the downside bellow $7,350 we should test the $6,600-6,800 area of support.

Weekly: Down

Daily: Neutral

4 hour: Up

1 hour: Neutral

Prediction for the day

Price will stay in the neutral range of $7,350 - $7,800

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