BITCOIN analysis for week commencing 28th June 2021 (revised)
BITCOIN continues to drift sideways in quite a narrow range (for BITCOIN).
The head & shoulders pattern is still intact and has yet to be negated.
We are also heading towards a "death cross" where the 50 sma or ema moves down over the 200. Although this is a very bearish scenario, as the moving average is a lagging indictor it doesn't necessarily mean price is headed lower. $29,000 is a key number to look out for and if BTC falls below this level then declines could accelerate.
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