BITCOIN Analysis for July 10, 2018

Bitcoin has been quite indecisive recently. BTC price is expected to trade higher above $6,500 with a daily close. The price has again surprised market participants with impulsive bearish pressure today. Being held by the dynamic levels of 20 EMA, Tenkan and Kijun line, there is still a possibility that the price may surge higher with a target towards $8,000. However, having a bigger Kumo Clloud to work as resistance may be the biggest threat for the bulls under the current market conditions. As the price remains above $6,000 support area with a daily close, the bullish pressure is expected to push BTC higher.

analytics5b448dbca0513.png

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