For Traders

Analytical Reviews

Crypto-currencies

27.07.201817:16 Forex Analysis & Reviews: BITCOIN Analysis for July 26, 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.

Bitcoin has been quite impulsive with minor price dips recently which led the price to reside below $8,000 with a daily close yesterday. Indeed, it comes as no surprise as the impulsive non-volatile momentum is obviously to be followed by certain pullbacks towards the dynamic level of 20 EMA before pushing higher with a target towards $10,000 in the future. Though the price is currently quite indecisive, the dynamic level of 20 EMA is still a bit far from the current price scenario. So, certain correction is expected in this case. As the price remains above $6,500 with a daily close, the bullish bias is expected to continue further.

SUPPORT: 6500

RESISTANCE: 8000, 10000

BIAS: BULLISH

MOMENTUM: CORRECTIVE AND VOLATILE

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade