BITCOIN Analysis for July 3, 2018
Bitcoin has been quite impulsive with the bullish gains recently which surprising led the price to reside above $6,500 area with a daily close. After a decline below $6,500 with a daily close, the bearish momentum has been quite strong which sparked off anxiety among market participants. However, yesterday’s sudden bullish momentum confused the sentiment. This month of July is expected to be the bullish momentum month for Bitcoin and other crypto currencies which may encoureage further gains in the coming days. As more big names like Goldman Sachs is showing interest in Bitcoin trading, bulls are likely to enter the market in the short run. As for the current scenario, the price is holding above $6,500. Moreover, the price is expected to jump towards the Kumo Cloud at $7,000-7,500 area before showing any bearish intervention in the process.