The price has formed around 2281.66 since morning and is moving above it now, but it is still under negative pressure formed by SMA 50, waiting for a break of 2340.80 to release from this negative pressure and then rush towards the positive targets of 2548.35 then 2713.30.
Therefore, we will continue to tilt the upside if we do not see a clear break below 2281.66 and 2116.68.
The trading range for today is expected among the support at 2200.00 and the resistance at 2550.00
As for today 21/07/2017 we have seen a big run up for the price of bitcoin.
The price rallied sharply yesterday to surpass our 2713.30 target and settle above it, approaching the historic peak at 2980.00 and rebounding to test the support floor formed above 2713.30 after breaching it in advance to support our short- and medium-term bullish outlook, The mentioned summit will push the price to achieve further gains of up to 3500.00.
It is necessary to be cautious in the coming trading, as the price is likely to witness mixed volatility and attempts to make some bearish correction to the strong momentum witnessed yesterday before resuming the upside move, noting that stability above 2548.34 is an important condition for the continuation of the expected rise for the coming period.
The trading range for today is among the support at 2500.00 and resistance at 3000.00
The general trend for today is bullish
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@ohamdache
do you think its going to the moon?
@ohamdache
In my own opinion nothing can stop bitcoin from getting a new high record but first i see that there is some consolidations at this level at least there are some sellers are taking their profits after they bought it @2200 or even 2100. So we will update when we see any thing in the market.
Thanks for you comment.
this is a great question! what do you think @freshmark?
I have no idea some say 10000 some say 100000 some say up to a million?
Next stop is mars