Bitcoin (BTC) Daily Price Forecast – July 10

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BTC/USD Medium-term Trend: Bullish

Resistance Levels: $6,500, $6,600, $6,700
Support levels: $6,300, $6,200, $6,100

Yesterday, July 9, price of Bitcoin was in a bullish trend. It was assumed yesterday that if price retraced from the recent high and tested the trend line without breaking it, then a long trade should be initiated. Today, the price has retraced, tested and broken the trend line. The implication is that the bullish trend has reversed.

$9.95
2 new from $9.95
as of August 2, 2018 1:29 pm
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$18.06
$34.99
51 new from $17.30
30 used from $12.73
as of August 2, 2018 1:29 pm
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$19.95
1 new from $19.95
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You don’t have to initiate a long trade anymore except price pullback to resume its uptrend. However, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of Bitcoin are above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing. The relative strength index period 14 is level 47 which indicates that price is in the sideways trend zone.

BTC/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Bitcoin is in a bearish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. Also, the 12-day EMA and the 26-day EMA are above the price bars of Bitcoin which indicates that the bearish trend is ongoing.

$9.95
2 new from $9.95
as of August 2, 2018 1:29 pm
Amazon.com
Free shipping
$18.06
$34.99
51 new from $17.30
30 used from $12.73
as of August 2, 2018 1:29 pm
Amazon.com
Free shipping
$19.95
1 new from $19.95
as of August 2, 2018 1:29 pm
Amazon.com

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