Bitcoin Price Prediction: Long-term (BTC) Value Forecast – July 6

Bitcoin Price Prediction: Long-term (BTC) Value Forecast – July 6

Sunday, July 7, 2019, 1:57 AM
  • On June 26, the BTC market reached a high of $ 14,000.
  • The BTC price is currently hovering around the $11,000 price level.

BTC/USD Long-term Trend: Bullish

  • Resistance levels: $10,500, $11,000, $11,500
  • Support levels: $11,000, $10,500, $10,000

The BTC/USD pair is in a bullish trend zone. The 12-day EMA and the 26- day EMA are trending northward indicating that price is rising. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. On June 26, the BTC market reached a high of $ 14,000.

On June 27, the bulls were resisted and the market was on a downward correction to the support of the 12-day EMA. The market made an attempt to move upward but was resisted and price fell to the 26-day EMA. The BTC price is now trading above the 12-day EMA which indicates that price is likely to rise. On the upside, if the 12-day EMA holds, the price of Bitcoin will rise to retest the $14,000 resistance level.

On the downside, if the bears break below the EMAs, the BTC price will depreciate to the lows of $8,000 and $9,000 price level. Meanwhile, the BTC price is in the downtrend zone of the 0.50 Fib. retracement level which suggests that the current trend may face reversal. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Bitcoin’s price is $11,340.84 BTC/USD exchange rate today. The real-time BTC market cap of $201.9 Billion currently ranks #1 with a chart dominance at 62.38%, daily trading volume of $7.62 Billion and live coin value change of BTC 2.90 in the last 24 hours.

Source :ambcrypto

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