Bitcoin Price Analysis : 17th JULY 2018

The latest News is coming about BlackRock considering Investement in cryptocurrencies, the world’s largest asset manager with about $6.3 Trillion under management. The company is forming a Team to look into Bitcoin’s potential.

BTC/USD

#Bitcoin has bounced from its recent low of $6100. The Bullish Inverse head and shoulders (H&S) pattern is still alive. If #Bitcoin will Breakout and close above the neckline at $6900+ the inverted H&S will complete. After that #Bitcoin might go up to $7900.

Once #BTC cross above the $7000 levels, it doesn’t have any significant resistance until $7700.
If #BTC unable to cross the $6800 Resistance, then it might go down. The first support at $6500, after that it can also go down to $6200 and below $5900 is a #Bearish Sign. Failure of a bearish pattern is a bullish sign and can result in a upward movement to $10000 in the medium-term.

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@piyush2516
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