Bitcoin price achieves the extended negative targets – Analysis 15- July, 2019

Ebitcoinics Analytics   15 Jul, 2019   www.economies.com   Views: 255

Bitcoin price succeeded to achieve our recently suggested negative target at 10,600.00, and it suffered additional losses to break this level and touch 61.8% Fibonacci correction level at 9,855.80 again, hinting the continuation of the negative pressure domination on the upcoming trading, noting that breaking the last level will press on the price to head towards areas below 9,000.00.

 

Therefore, we suggest the continuation of the bearish trend on the intraday and short term basis, it might be preceded by some rise to test 10,600.00 affected by stochastic positivity, taking into consideration that breaching this level is considered as an initial positive key to start recovery attempts and recover the losses that the price suffered recently.

 

The expected trading range for today is between 9,700.00 support and 10,600.00 resistance

The expected trend for today: Bearish


NB:


This analysis is for information purposes only and does not constitute a trade signal



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