Bitcoin Price Analysis : 10th-July-2018
The cryptocurrency market has dropped around $20 Billion in past 24 hours. The crypto market recorded a fall from $274 Billion to $252 Billion, around 7% drop in value. The drop of #Bitcoin from $6,800 to $6,300 caused other Cryptocurrencies a intensified Downfall. Find more update in below #Analysis.
#Bitcoin has been consolidating near the overhead resistance of $6800 from past two days. Once this level is crossed, #Bitcoin will go at $7500+. As we have recommended in last post that #Bitcoin can also form Inverted head and shoulders #(H&S) pattern. Now #BTC already touched $6300, now the next support level is at $6200.
If #BTC goes below $6200 and goes around $5900 then it will be bearish sign, to go further down at $4900. If we look according to Time Indicator in below #Weekly Chart 9th low candle is forming and Stochastic RSI also going down. This is good sign if we close below last week candle for a Bullish Reversal. Please Trade Accordingly, we will keep you updated according to Market scenario.
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