FX.co ★ Bitcoin analysis for July 16, 2018

Trading recommendations:

Recently, Bitcoin has been trading upwards. As I expected, the price tested the level of $6.493. According to the H1 time - frame, I found a successful rejection of an upward trendline (support), which is a sign that buyers are in control. I also found a hidden bullish divergence in the background, which is a sign that sellers lost the power. My advice is to watch for potential buying opportunities on the dips. The upward target is set at the price of $6.748.

$6.748 - Intraday resistance; $6.300 – Intraday support; $6.748 – Objective target;

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