Thursday, July 18, 2019
The buying pressure is finally back. The next few days will be crucial for future trend.
Actual support/resistance: $9'100/$10'000
After more than 10 days of correction, bitcoin seems to have found support above $9'100. A significant buying pressure was noted and the resistance at $10'000 has been tested without success. The price has deviated significantly from the average in recent days. As it was the case with the extreme bullish momentum observed last month, it is likely that a return to the mean will occur in the coming days. The technical indicators are also highly divergent with an oversold RSI(14) and MACD lines that have significantly diverged from each other. If the price stabilizes above the psychological level of $10'000 at the end of July to get closer to the 20-day moving average, this would be an extremely positive sign for a future bullish momentum. The actual support and resistance key levels should be observed carefully.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.