14 July BTCUSD Price Technical Analysis: Will Bitcoin drop below $6,000?


Bitcoin price declined yesterday below the $6,100 level before recovering substantially against the US Dollar. Is the price of Bitcoin likely drop below $ 6,000? What is revealed in the following 14 July BTCUSD Price Technical Analysis?

14 July, GKFX – Bitcoin the largest cryptocurrency is trading flat to mildly green on day but the chips are in place for this crypto poster boy to head lower again below $6,000 round figure mark from where it bounced back later last month.

14 July BTCUSD Price Technical Analysis

BTCUSD up 0.1 percent on day at $6,218 almost near low point of the day, which is at $6,204 and in a less than $100 range for the day.

On the 180-minute chart, the downard bias on the Bitcoin is clearly visible which could take it potentially towards $5,900. Immediate strong support is placed around $6,100 mark while resistance is placed above $6,300 in the form of 21 days simple moving average.

BTCUSD 180-minute chart:

NY state approves different rate structure for crypto miners

Regulators in the state of New York which have come up with a new power rate structure for crypto miners. The state of NY has one of the cheapest power rates in the U.S at $0.039 per kilowatt hour as compared to national average of $0.13 per kilowatt hour.

Disclaimer

This article 14 July BTCUSD Price Technical Analysis was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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