I do not believe selling has stopped. First, Bitcoin play between $8,500-$8,700 then the next day it played around $8,200-$8,400 and today it is playing around $7,900-$8,200.. which clearly means its a bear market and lots of volatility.
From the chart we can see that Bitcoin hit the $7,500 level about six times between May and June. It's safe to say that $7,500 serves as a good place to find stability. There is no greater support between $7900 and $7500 than at $7500 standing at 316-BTC just on Coinbase. Having check a few exchanges, it seems like $7,500 is strong support and $7,000 is critical support.
There is more than a chance for Bitcoin to sell below $6,000. If you are in alts, stay out.. there is no stability yet. It took 4-months of of stability for the 360% bull run of April 2018. If you are expecting a massive breakout any second, don't hold your breath because it may not come so fast, although it is coming. As it stands, positions are still short and waiting on the selling to continue before buying back in.
RSI still has room to match the lows of Nov 2018 as does the MACD. Even if Bitcoin now reaches the RSI and MACD level of 2018, that still puts Bitcoin WELL above the lows of 2018 of $3,080 which tells you the long trend lows are higher and higher.
From the chart we can see that Bitcoin hit the $7,500 level about six times between May and June. It's safe to say that $7,500 serves as a good place to find stability. There is no greater support between $7900 and $7500 than at $7500 standing at 316-BTC just on Coinbase. Having check a few exchanges, it seems like $7,500 is strong support and $7,000 is critical support.
There is more than a chance for Bitcoin to sell below $6,000. If you are in alts, stay out.. there is no stability yet. It took 4-months of of stability for the 360% bull run of April 2018. If you are expecting a massive breakout any second, don't hold your breath because it may not come so fast, although it is coming. As it stands, positions are still short and waiting on the selling to continue before buying back in.
RSI still has room to match the lows of Nov 2018 as does the MACD. Even if Bitcoin now reaches the RSI and MACD level of 2018, that still puts Bitcoin WELL above the lows of 2018 of $3,080 which tells you the long trend lows are higher and higher.
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