Wednesday, July 24, 2019
The price closed one more time below $10'000. The bears are eyeing lower levels.
Current support/resistance: $9'200/$10'000
This is the third time the price reaches the 4 digits and the two previous ones have seen lower lows. If the level $9'200 is broken we can expect the new low of $8'800 to be reached. A consolidation staying close to $10'000 would be healthy for a quick backup.
While the trend doesn't look all too good in the daily candles, the bulls still see signals for another uptrend pointing out the Bakkt futures contracts that will have a direct effect on the price of Bitcoin as well as high transactions value.
Indicators are still in the red and weekly MACD are still getting closer.
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.