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Bitcoin Price Analysis July 05

Brief market summary. Thursday July 5th

– Bitcoin price change:

  • 24 hours: +2.51%
  • 1 month: −10.76%
  • BTC trading volume (24h): 4,269,710,000 USD (Volume remained on the same level)
  • BTC Dominance: 41.7% (Slight decrease):

+ Biggest Gainers (TOP-100): Ethos (+76.64%)

+ Biggest Losers (TOP-100): Syscoin (-22.53%)

– As Vietincome indicated in the previous analysis, BTC needs to move over $6,800 to indicate further bullish run. Slight BTC drop was observed after Binance indicated that at one point one SYS was worth 96 BTC while its price had previously maintained around 0.00004 BTC.

View the price chart: Chart Bitcoin

– News environment: Neutral. Overall news environment is positive, however some news halted BTC rise. Alleged Syscoin hack on Binance and couple other regulatory issues created neutral news environment.

– Short-term analysis: Once panic regarding Binance alleged API “hack” ended, BTC resumed growth.

  • MACD: Bullish divergence (relatively weak),
  • VFI (still bearish, but with weak, growing trend towards Bull market).
  • RSI: Neutral (52, heading towards “overbought” value at 70).

=> Vietincome don’t see strong urge to “jump on the train” yet, because Bulls don’t have confidence. If BTC will move over $6,800 and would be able to stay over that line for 7 days, then we should expect expect BTC going up to $7,700 – $7,800 in July. Failure to move above indicated line will trigger fall bellow $6,000.

=> The following time like this Trader if you want to trade, should should give the wave matching transactions with Crypto Exchange BitMEX – Trading Margin (Use up to 100 times.)

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