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00:07 16.07.2019
2019-07-16
Neironix
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Bitcoin Forecast And Analysis For 16th July: Back At $10,000 After Huge

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

Friday's rise didn't continue this weekend; a huge decline caused price to break below the buy area that caused the rise. Bitcoin is now hovering just above $10,000, but I think a reversal, maybe back up to $11,500 is building up behind the scenes.

At the time of this writing, the bitcoin course was equal to $10,519 and the market capitalization was $188 billion.

Price is currently inside the lower buy area I marked in my previous analysis. I think this area has a good chance of causing a reversal or retracement of some sort, due to it being the last major point where the whales and other big traders bought a large amount of bitcoin. Some reversal candlestick have begun to form, so we may see a reversal later on tonight.

For the moment, watch for reversals signals inside the buy area. A couple have already formed, but I think we'll price dip back into the area and create some more before it reverses and starts rising again. If price doesn't rise and instead falls through the area, expect to see a rise around $9500, as that's the next major support level..

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