FX.co ★ BITCOIN Analysis for July 24, 2018

Bitcoin has been quite impulsive with the recent bullish gains after breaking above $6,500 area with a daily close. Having certain correction and lack of a deeper pullback along the way was a great sign for the bulls to continue their attack in the coming days. Currently, the price is residing inside the resistance area of $8,000-8,500 from where certain bearish momentum can be observed which might lead to a pullback towards the dynamic level of 20 EMA before the bullish trend continues to proceed higher towards $10,000 in the future. As the price remains above $6,500 area with a daily close, the bullish bias is expected to continue further.