Bitcoin

Bitcoin $BTC Forecast: Friday Edition: Headed North

2018-07-27

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This edition features popular Bitcoin technical analyses from NewsBTC, Coindesk and FXStreet. Or jump right to today’s Bitcoin $BTC Forecast.

NewsBTC Analysis

View: bearish

bearish

Aayush Jindal of NewsBTC ventures "BTC/USD Likely To Consolidate Below $8,200 [and] Bitcoin price declined sharply [and] key bearish trend line formed with resistance near $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken)."

Coindesk Analysis

View: bullish

bullish

Omkar Godbole of Coindesk suggests "the broader outlook still remains bullish, technical charts indicate [and] The overnight drop in price came soon after the Securities and Exchange Commission’s (SEC) second rejection of the Winklevoss brothers’ application for a bitcoin ETF [and] it is safe to say the bull market is intact"

FXStreet Analysis

View: bearish

bearish

Ken Chigbo of FXStreet clarifies "bears manage to force the price below of a near-term supporting trend line [Editor Note: one day Trend Index and Forecast Bias are both bullish]"

Bitcoin $BTC Forecast

on Friday 27th of July 2018 04:27 PM UTC

bearishbullishbearish

The crypto pundits say: “bearish/bullish/bearish/”.

Today the experts flip positions with two bears and one bull. On Wednesday we saw two bulls and one bear. Bitcoin eased lower yesterday however we awake to a gently rising BTC at $8170 and decidedly headed north again.

Of note we saw Coindesk report an overnight drop in price with an SEC news report a linked factor. This coincided with the $BTC/USD market changing from bullish to bearish. This is reflected in today’s consolidated Forecast.


[legal disclaimer] Just one news report can invalidate a technical analysis.

Disclosure

The author holds $BTC and other cryptocurrencies at the time of writing.

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