18.07.201818:29 Forex Analysis & Reviews: BITCOIN Analysis for July 18, 2018

Long-term review

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Bitcoin has been quite weak with the bullish momentum today comparing the previous daily pressure it had earlier this week. The price has moved higher above $7,000 area which is pretty good for the bulls but the amount of bullish pressure expected was not seen at the current market situation. Though having no alarming fundamentals for Bitcoin and Crypto market, the price is expected to continue to push higher in the coming days of the week as well. As of the current scenario, the price is still residing inside the Kumo Cloud, which might be a strong reason for the bullish pressure to slow down technically but as the price remains above $6,500 with a daily close, the bullish bias is expected to continue further with target towards $8,000 in the coming days though certain correction can be observed in the process.

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