BITCOIN Analysis for July 26, 2018
Bitcoin has been quite impulsive with minor price dips recently which led the price to reside below $8,000 with a daily close yesterday. Indeed, it comes as no surprise as the impulsive non-volatile momentum is obviously to be followed by certain pullbacks towards the dynamic level of 20 EMA before pushing higher with a target towards $10,000 in the future. Though the price is currently quite indecisive, the dynamic level of 20 EMA is still a bit far from the current price scenario. So, certain correction is expected in this case. As the price remains above $6,500 with a daily close, the bullish bias is expected to continue further.
RESISTANCE: 8000, 10000
MOMENTUM: CORRECTIVE AND VOLATILE