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17.07.201814:23 Forex Analysis & Reviews: BITCOIN Analysis for July 17, 2018

Long-term review

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Bitcoin has been impulsive with the bullish gains recently which made the price reside above $6,500 area again with a daily close. Bitcoin has gained slightly over 4% in the intraday trade which signals great momentum in the recent price action that indicates further impulsive bullish pressure to push the price higher towards $8,000 in the coming days. At present, despite no negative fundamentals, the price is quite indecisive at the edge of Kumo Cloud resistance after breaking above $6,500. Though certain corrective indecision is unfolding, the price is expected to continue climbing higher in the future with a target towards $8,000 as the price remains above $6,500 with a daily close.

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