Technical analysis Bitcoin. BTC-USD on July 15, 2018

July 16, 2018

#BTC 1w

If to consider the long-term positive scenario for Bitcoin development, the market can form the next bullish flag, if we break the resistance on its upper edge, it will give a possibility to set a new all-time high.

Now we are still falling, the formation of a doji candle on 1 month timeframe and the reverse H&S pattern on 12-h timeframe indicate just the possibility of the fall correction as a small bounce (now there are no signals that can show we can go higher than 10000).  That is why in order to get a bounce we can continue to fall down to the recently mentioned 4800 level. In order to confirm the global growth we need the volume increase, the price needs to break 10000 barrier and the volume needs to increase very rapidly.

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