FX.co ★ BITCOIN Analysis for July 4, 2018

Bitcoin has been quite impressive with the recent bullish gains but it failed to sustain the momentum, leading to certain bearish intervention in the process. In light of the recent reports, Bitcoin is still bullish despite the pullback. Such a pullback is now considered as a retracement before impulsive bullish momentum in the short term. As for the current scenario, the price is expected to push higher towards $8,000 area in the coming days as it remains above $6,000-6,500 area with a daily close. As the dynamic level of 20 EMA is holding the price as support, the bullish momentum in the coming days is more likely.