Bitcoin's price has been decreased 1.32% from yesterday's trading. The announcement regarding the price reduction has been made after reports that people of Greece will support the austerity measures in elections. The price of Bitcoin has been cut to $253.19.

It can be observed from Bitcoin Price Chart Structure that earlier Bitcoin has got support from $254 at least two times and jumped. Now traders are looking forward to a similar action. But the bitcoin price will break more than the descending resistance even if it doesn't break $254 on a closing basis in view of the fact that the cryptocurrency is trading in a flat bottom structure, a lower top, and has reached the point of intersection.

According to the Coinbase tweet, "We're seeing about a 300 per cent increase in bitcoin buys across all Europe in the past few weeks (not much from Greece though, they aren't able to)".

Even if Moving Average Convergence Divergence (MACD) and Signal Line are moving down, it appears that the slide in the Histogram value has been captured. As per reports, the MACD has fallen to 0.8840 whereas the Signal Line is at 2.0113, in this manner putting the Histogram near -1.1273.

The investors think the same way after gold hardly made any movements in the period of the latest Greek crisis. Since the beginning of June, the bitcoin price has rallied by over 10% when Greece's problems started appearing the headlines.