Bitcoin The details of the July 12 price outlook are as follows:
- The bitcoin price clearly reflects the buyers and sellers struggle on the 4-hour chart
- Smaller consolidations can be seen at current levels.
- Bitcoin seems to be able to cling to one of the levels of correction, but it can go into reverse head and shoulder formation
Bitcoin seems to have not signaled what direction it would go towards when the price keeps its horizontal course  Bitcoin July 12 Technical indicator signals
The 100 SMA is below the long-term 200 SMA. This means that the continuation of sales is higher than the possibility of reversing. At the same time, moving averages act as a dynamic resistance.
However, the narrowing of the range between moving averages is signaling that it may go uphill. In such a case, if the bullish momentum rises, the price of Bitcoin may move upwards.
In a possible upward trend, reverse head and shoulder formation may occur. The fracture of the neckline of the formation to be formed signals a rise in the level of $ 6850. This would increase the likelihood of a rally, and the rise could be at the same height as the formation length.
RSI points out the upward pressure as the exit from the oversold territory. The stochastic indicator has already reached the oversold territory. And an upward motion gives a ready view. Bitcoin price is likely to follow these two important indicators.
Bitcoin is struggling with several problems, such as reduced investor sentiment, at the beginning of the week by being exposed to the negative comments of renowned economists, as a possible downward move might break the support of $ 6,200 to test Bitcoin for $ 5,800.
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