On June 1, the Bitcoin (BTC) price broke out from a pattern that had been in place for nearly one month and proceeded to reach a high of $10,380. While this is a very bullish development, the price has yet to move above a crucial resistance area that will likely determine the direction of the long-term trend. Cryptocurrency trader @CryptoCapo_ tweeted a chart saying that in order for the
Bitcoin Gets Rejected Once More by $10,500 Resistance
The Bitcoin price was rejected sharply by the $10,500 resistance area.
The price has generated a considerable bearish divergence in the daily RSI.
If the price breaks down from the current ascending support line, it could decrease all the way to $6200-$7000.
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