Bitcoin continued its incredible run last week, surging another roughly 10% to close around $740. The price has now jumped over 65% since late-May.
Source: tradingview.com
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Bitcoin Price Outlook for Week of June 20th
After the massive price move over the last month, some key indicators have started to weaken. The MACD had a short-term bearish crossover and the RSI unwinded some big momentum over the last week. However, both remain bullish overall.
Significant resistance can be found at $775 as a double top has formed at that price point. Breaking above that key level would pave a clear path to $800. Two key support levels to watch on the downside are $730 and $715 with the latter being particularly important. If the $715 support level is broken, the price could fall to the $680-$690 range.
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*All data and references are current as of 12:00PM EST on 6/20/2016.
