Bitcoin Price Watch – BTC/USD Erases Gains, New Bearish Run ConfirmedMay 30, 2018 by admin 0 Comments Price Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn This morning, Bitcoin erased yesterday’s gains and fell below the $7,500 price level. It’s currently trading in a range from $7,330 to $7,350. At the moment, Bitcoin is on another bearish run, testing a support of $7,300. However, the cryptocurrency is showing positive signs against the 100-day moving average, facing a barrier of $7,500 to $7,600. BTC/USD On New Bearish Run Following the recent price actions, BTC/USD is now on a new bearish run toward a major support of $7,300. The trading volume spike indicates that a minor selloff occurred in the past couple hours. However, buyers succeeded in pushing the price back near the $7,350 level, which may result in a reversal toward a major resistance point of $7,550. A short-term bullish reversal will be confirmed if Bitcoin breaks past the descending (bearish) 10-day moving average hurdle. On the upside, buyers must push the price above the resistance level for more near-term gains. A movement past $7,600 could take BTC/USD further up toward $8,000 later this week. On the downside, a break below $7,330 may push BTC/USD toward the other direction to the $7,200 level. Source: Tradingview Looking at the technicals chart, BTC/USD is currently on a bearish run as indicated by the MACD line crossover. On the other hand, the RSI indicator shows that Bitcoin is in oversold territory. Looking at the Technical Indicators: Hourly MACD — Bearish signal Hourly RSI — Bitcoin is in a bearish zone Major Resistance Level — $7,550 Major Support Level — $7,300 Featured Image: Depositphotos/© EdZbarzhyvetsky NEXT PAGE NEXT Previous Bitcoin Price Watch – BTC/USD Erases Gains, Dips Further Toward $7,000 Next Bitcoin Price Watch – BTC/USD Holds Ground, Testing Resistance At $7,500 If You Liked This Article Click To Share This article was originally published by Cryptocurrencynews.com. Read the original article here. Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Products You May LikeArticles You May Like The ultimate Beginner’s Guide to Investing in Bitcoin and Bitcoin Mining Investing in Bitcoin and Cryptocurrency Warren Buffett: “Buying bitcoin is not investing” “You MUST INVEST In Bitcoin Before It’s Too LATE, Nov. May Make HODLERS Rich” – Pro Explains Growth Bitpay will kill Tether! Bitcoin getting boost from Fidelity Investments!