https://www.newsbtc.com/2018/06/26/...watch-another-breakout-attempt/
RSI came off a bullish divergence as price made lower lows while the oscillator had higher lows. However, RSI appears to be turning lower without hitting overbought levels to hint that sellers are eager to return. Stochastic is also on the move down to indicate a pickup in selling pressure.
In that case, bitcoin could still find itself resuming the selloff back to the mid-channel area of interest or support at $5,400. A break past the $6,500 area, on the other hand, could mark the start of a reversal.
Some speculate that the bounce was merely due to a release of 250 million Tether, a stablecoin that was seen to be responsible for influencing bitcoin price back in 2017. Still, it’s worth noting that Japan is stepping up the game in terms of overseeing bitcoin exchanges so there could be reason for investors to stay cautious.
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