10.07.201812:57 Forex Analysis & Reviews: BITCOIN Analysis for July 10, 2018

Long-term review

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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.

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