Bitcoin Price Forecast 7/30/2017

These are exciting times as we approach the Bitcoin split! Current MC: $89.3B and holding strong.

Bitcoin dominance over the crypto markets is back above 50% as people are preparing for the big split on Tuesday. Major exchanges are taking sides on whether to support the new coin or not. Investors are holding on tightly, watching very carefully for any news. We are seeing a new level of stability for Bitcoin as few people are selling in anticipation for their bonus Bitcoin Cash.

In today's graph (24hr chart) you will see we had a sizeable drop last night back down to $2582 followed by a small rally back to $2760. I would expect the following hours to see a small pullback to $2650 with a bounce back up to $2700 immediately afterwards. The market sentiments right now are creating unbelievable stability. The Stochastics indicate that there is some support holding the price stable around $2725.

Likely Scenarios:

• BTC holds steady in the $2700 range again today
• BTC drops down to $2650 before pulling back to $2730 zone
• BTC continues to rally up to $2800 again

TLDR Version-
Expect another day of relative stability in Bitcoin markets as people HODL. Price should hover around the low $2700 range again for most of the day. Retracement back down to low $2600's possible with support around $2650.

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