09.06.202316:12 Forex Analysis & Reviews: Technical analysis on Bitcoin for June 9th, 2023.

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Blue lines- bearish RSI divergence

Red lines- bearish channel

Bitcoin is trading around $26,700. Short-term trend remains bearish as price continues forming lower highs and lower lows. Price remains inside the red downward sloping channel. Resistance is found at $27,510 and support at $25,550. Price remains vulnerable to a move lower towards $25,000 as long as price remains inside the bearish channel. So far there is no sign of a reversal or stop of the bearish trend.

Alexandros Yfantis
Analytical expert of InstaForex
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