On Tuesday, July 10, the price of the first cryptocurrencies the beginning of a rapid decline. Even at night the average rate of bitcoin stood at around $6800, but then began to gradually decline.

Data TradingView

At approximately 9:00 UTC the correction was greatly accelerated, at the moment bitcoin is trading slightly below $6400, losing for the last day almost 6% of the cost.


last 4-hour candle closed below 100MA — bad news pic.twitter.com/QSeeftgovB

— CoinDesk Markets (@CoinDeskMarkets) 10 Jul 2018

According to analysts CoinDesk, a four-hour closing candle below the moving average (MA) signals further movement to $6000.

However, the RSI shows oversold. This may mean that in the coming hours the market will not show any sudden movements.

The 4-hour RSI has dipped below 30.00, indicating oversold conditions, so we could trade in a sideways manner for the next few hours.

— CoinDesk Markets (@CoinDeskMarkets) 10 Jul 2018

Recall, July 2, the price of bitcoin in just over an hour crossed the path from the values in the neighborhood of $6300 to $6600.

Many analysts noted that the markets need to overcome the barrier of $7000 to strengthen the position and breaking the downtrend, but bitcoin failed to reach that mark.