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02:07 12.07.2019
2019-07-12
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Bitcoin Forecast And Analysis For 12th July: Huge Reversal Sends Price Back To 11,000

Hello everyone, this is a daily review from Liam Webb from CryptoTradingSchoolOnline specially for Neironix.

A huge reversal has wiped out the gains bitcoin made on Wednesday and has caused price to fall all the way back to the buy area located around $11,000.

At the time of this writing, the bitcoin course was equal to $11,679 and the market capitalization was $208 billion.

With this decline, it's unlikely we'll see Bitcoin break $13,000, at least in the short term. We may see another rise up to the sell area created by the drop, but I don't think price will break it and continue; it'll probably reverse and fall back to $11,000 again. In the medium term, a consolation may now develop between $11,000 and $12,000, or, if the price breaks through the buy area, between $10,000 and $11,000. It's too early to say, so we'll have to wait and see.

For now, continue to monitor the price. Currently, it's rising after falling into the buy area during the decline, but I think this will be short-lived, and we'll see the decline continue, maybe tomorrow or this weekend. If this happens, watch the bottom buy area for entries, as that's the next most likely place for the price to reverse.

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