7th July - Cryptocurrency Price Analysis (By Shivkumar)
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If the BTC/USD pair turns down from $ 9391, the bears will make one more attempt to sink the price below the $8,825–$8,638.79 support zone and can expect deeper correction.
If the bulls can drive the pair above $ 9391 a rally to $10,000 is likely.
A breakout of the $10,000–$10,500 zone could sustain a new uptrend.
By climbing above $230 the next target is $253.556, if bulls can sustain above these level than the uptrend resumes and next target is $ $ 288.59.
If the bears again defend the $253.556 level, the pair might remain range-bound for a few more days.
As per technical analysis it shows as the bulls have minor short term advantage.
Above this resistance $ 0.19, a rally to $0.214616 and then to $0.235688 is possible.
As per the technical analysis, bears looks in control and $ 0.19 level cant be sustained longer.
The rally above $ 0.19 can be a bull trap.
This is the first sign that the bulls are in control if price can sustain above $240, a rally to $260 is possible.
The pair will be bearish if the pair turns down from $240, it could again drop to the 20-day EMA ($229).
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326