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 31, 2018

July 31, 2018 Analytics

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Bitcoin has been quite impulsive with bearish swings today which made the price break below $8,000, defying the sentiment about pushing higher with a target towards $10,000 area. Despite the today’s impulsive bearish pressure, the price is still expected to push higher and the overall bullish bias is still intact as the dynamic level of 20 EMA is expected to work as important support for a while. The bearish pressure today engulfed the previous bullish corrective momentum. However, as the price remains above $6,500 with a daily close, the bullish bias is expected to continue to push the price higher with a target towards $10,000 in the coming days.

SUPPORT: 6500

RESISTANCE: 8000, 10000

BIAS: Long-term Bullish, Short-term Bearish

MOMENTUM: Volatile

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

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