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19.07.201811:28 Forex Analysis & Reviews: Bitcoin analysis for July 19, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 19.07.2018 analysis

Trading recommendations:

Recently, Bitcoin has been trading sideways at the price of $7,297. Anyway, according to the H1 time frame, I found a potential end of the downward correction (expanded flat), which is a sign that selling looks risky. I also found the intraday symmetrical triangle in creation, which is another sign that selling looks risky. My advice is to watch for potential breakout of the symmetrical triangle to confirm further upward continuation. The upward targets are set at the price of $7,557 and $7,731.

$7,356 - Intraday resistance; $7,197 – Intraday support; $7,557 – Objective target 1; $7,731 - Objective target 2;

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic
Analytical expert of InstaForex
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