Bitcoin (BTC) Technical Analysis July 16

BTC/USD Long-term Trend: Bullish

Supply Zone: $8,200, $8,300, $8,400
Demand Zone: $,8,000, $7,900, $7,800

In the month of July 2018, the Bitcoin price had been bullish. The BTC price was $6,345.11 at the beginning of July 2018. However, the Bitcoin price is currently trading at $8,153.12 which is about 22% price increase as at the time of reporting. In the month of July, the price had its peak at $8,490.84 but the price had a pullback to the low of $7,849. It is currently trading at $ 8,153.12.

Meanwhile, the MACD line and the signal line are at par with the zero line which indicates a neutral signal for the price of Bitcoin. In the same vein, the price bars of Bitcoin are above the 12-day EMA and the 26-day EMA which indicate that Bitcoin price  is rising. Nevertheless, the Selative strength Index period 14 is level 51 which indicates that the price of Bitcoin is in the range bound zone

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research

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