Update on Bitcoin. BTC-USD on July 26, 2018

July 26, 2018


The support of the downtrend line has reflected the further market fall near 8100 level and now we can see the small bounce. It is possible that Bitcoin would wish to fall further as it needs the correction of the growth. We will push the downtrend line again, but this time the market can step lower. 7500-7800 zone looks like a good opportunity for the next bounce, but we don’t know if there will be enough strength to overcome 8100 zone. If the resistance is broken after the fall, we should expect the positive scenario, if it doesn’t, the market will have a correction to the lower levels. The alts can feel uncertain on the background of Bitcoin oscillations and demonstrate deep falls as some alts need the corrections even now. The coins that have demonstrated the growth these days should be caught on the lower levels. If the Bitcoin price fall gets to 7400 level, there will be a possibility that the support won’t hold the market pressure and we will have a further move down.

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