ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

Bitcoin (BTC) Long-term Price Analysis

Share On Facebook
share on Linkedin
Print

BTCUSD Long-term Trend – Bullish

©

 

 

Distribution territories: $8,500.00, $9,500.00, $10,500.00.
Accumulation territories: $6,000.00, $5,000.00, $4,000.00.

 
Bitcoin’s market value has seen a sharp and tremendous increase this week. The cryptocurrency made strong northbound movements after making corrections caused by the bears’ selling pressure. The bulls now seem to be in control of the market.

 
BTC was in bearish condition while its price traded from $6,800.00 down to around $6,200.00. On July 15, the cryptocurrency made a short bullish Japanese candlestick that symbolized the starting point of the market’s current trend.

 
On July 16, the bulls gathered their strength and pushed the cryptocurrency to the distribution territory of $6,800.00. Subsequently, the distribution territory was breached and that led the market to closely average the distribution territory of $8,000.00.

 
The 14-day SMA has touched the 50-day SMA from below as the price has been above them. The Stochastic Oscillators have moved northwards past range 80. This still suggests more buying pressure on BTC.

 
The cryptocurrency seems to now be set for experiencing more upside movements as there can be pit stops between the distribution territory of $8,500.00 and the accumulation territory of $7,000.00. Its outlook remains positive for those looking to taking long positions. Traders should be careful and practice proper fund management.

 

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

 

Source: https://www.cryptoglobe.com/markets

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com