Bitcoin still stuck under 400-day moving average

٣٠ يوليو ٢٠١٨

BTCUSDBitcoin has encountered strong resistance trying to break above the 400-day moving average (See Green histogram in chart) and just moving to the downside below $8000, as well as finding resistance on the median line of a longer-term bullish channel (see white dotted-line in chart). If the 400-day moving average isn't regain the previously bearish trend should resume with lower-lows, whereas a break above the 400-day line - which is hovering just over $8400 - would be very bullish. For now price action is in limbo with some bearish momentum developing as $8000 was lost.