BTCUSD Daily Chart update - May 29, 2018

https://www.tradingview.com/x/Ll46W806/

The slow grind down continues. I was expecting a quick dump under $7,200, but there is a lot of bids supporting the price and the selling is still orderly. TD is on red 8 and tomorrow we might see a reversal based on this indicator. MACD trending down, RSI staying at oversold levels. Price is very close to the big trend line. For today the trend line comes at $6,960. All timeframes are bearish again.

Weekly: Down

Daily: Down

4 hour: Down

1 hour: Down

Prediction for the day

A dip bellow $7,000 followed by a large bounce today or tomorrow

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