FX.co ★ BITCOIN Analysis for July 6, 2018

Bitcoin has been quite indecisive and low on liquidity at the edge of $6,500 area for a few days now which is still expected to push higher towards $8,000 area in the coming days. As recently more big names and countries like South Korea approving Cryptocurrency Exchanges as Financial Institutions, the Crypto industry as well as Bitcoin is expected to gain value in the future. Though the market is currently indecisive as the price remains above $6,500 area the bullish bias is expected to continue. As of the current scenario, dynamic levels like 20 EMA, Tenkan and Kijun lines are holding the price as support which is expected to increase the bullish momentum with certain extent leading to further bullish pressure in the pair with a target towards $8,000 in the future.