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02:06 12.06.2019
2019-06-12
Neironix
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Bitcoin Forecast And Analysis For 12th June: Decline Signals Move Back To Consolidation Lows

Hello everyone, this is a daily review from Liam Webb from CryptoTradingSchoolOnline specially for Neironix.

It seemed like yesterday's rise would continue today but a decline that started last night has pushed it lower, and it now looks like the price is heading back down to the lows of the consolidation.

At the time of this writing, the bitcoin course was equal to $7796 and the market capitalization was $138 billion.

I'm not sure whether we're seeing this decline because the whales plan to get more trades placed around the lows - which is how they cause reversals  - or if they're selling to make the price fall, so they can buy back lower and then cause a reversal.

I think we'll have to see what the price does when it enters the buy area. If we see another strong rise out as we did with yesterday's rise, then I think that'll be a good signal we're going to see the price reverse back to 8800 sometime soon. On the other hand, if it breaks through the area, I think it'll fall into the area below (not seen in the image) before reversing back up again.

For now, just monitor what the price does over the next few hours.

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