Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

BITCOIN Analysis for July 20, 2018

July 20, 2018 Analytics

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Bitcoin is still able to sustain the bullish momentum it had since it had broken above $6,500 area with a daily close earlier. Though the price has been expected earlier to hit the $5,000 area before showing any impulsive bullish pressure, the price bouncing above $6,000 area inspired some optimism about a further price move of Bitcoin. Its price is currently getting closer to $8,000 resistance area. At present, there has been a lot of speculations going on about Bitcoin but the price is quite bullish despite the recent correction in the intraday charts. As the price remains above $6,500 area with a daily close, despite being inside the Kumo Cloud resistance, the price is expected to push higher towards $8,000-8,500 area in the coming days.

SUPPORT: 6500

RESISTANCE: 8000-8500

BIAS: BULLISH

MOMENTUM: CORRECTIVE

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The material has been provided by InstaForex Company – www.instaforex.com

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