Bitcoin Price Forecast 7/29/2017

Here we go again! Current MC: 88.7B

We are just a few days out from the coin split and the markets seem to be re-balancing. Alt-coins have seen a dramatic sell off the past two days as people liquidate back into BTC in preparation for Bitcoin Cash. It only makes sense to convert your alts into BTC so you can get the extra BCC (or BCH) then re-enter the alt-markets yet again. I decided not to sell out (just yet) as prices have recovered slightly today due to bargain prices.

In today's chart you will see that we are holding steady in that $2650-2750 range like I had predicted. There seems to be strong support stepping in around $2650 so it is unlikely we will see a dip below that today. Resistance is holding at the around $2800 for the short term.

Likely Scenarios:

• BTC holds steady around $2700-2750 for most of the day
• BTC falls back to $2650 before pulling back again
• BTC jumps past $2800 resistance and we approach $2850 by tonight

TLDR Version:
Hold your Bitcoin because the price is super stable and you have the chance to get free Bitcoin Cash on Aug 1st... Prices will hold steady in this $2700 range and may even go higher by tonight. Alt-coin markets are suffering as people cash out back into BTC. Good buying opportunity for most alt-coins as a result.

*As always never invest more than you are willing to lose and always do your own research before making any investment decisions.