BITCOIN Analysis for July 9, 2018

Bitcoin has been struggling to gain momentum for the last few days above $6,500 area whereas the bias is still bullish which is expected to push the price higher towards $8,000 in the coming days. Though certain indecision and recent hack problems have deviated the current investors of the market speculators are still quite optimistic with the Bitcoin gains in the coming days. As of the current scenario, the price is residing above the dynamic levels of 20 EMA, Tenkan and Kijun line which are ready to provide support for the upcoming bullish momentum in the market but due to lower Average True Range as suggested by ATR, the bullish momentum is not observed as expected but as the price remains above $6,500 area with a daily close, the bullish bias is expected to continue.

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