Bitcoin Dips Below Key $61.9K Level
Solid ECN – Bitcoin dipped below $61,896 in today's trading session. The technical indicators are bearish, with the RSI hovering below 50 and the Awesome Oscillator bars in red.
From a technical standpoint, the downtrend momentum that started earlier this week will likely continue, with the median line of the Bollinger Band acting as resistance. If BTC/USD remains below this line, the next milestone for sellers will likely be $59,559.
Conversely, the bearish outlook could be invalidated if the price crosses and stabilizes above $62,702.