Bitcoin (BTC/USD) bulls heavily knocking on the door for a lift to the skies
- Bitcoin bulls continue to press the upper part of the current range. Key near-term resistance seen running from $6400-500 region.
- Expert panel median forecast for Bitcoin by December is seen at $8200.
Bitcoin price on Tuesday was seen holding minor gains of just some 0.25%, through the mid-point of the session. BTC/USD bulls continue to test the upper part of the range, resistance holding firm for now from $6400-$6500 territory.
A breach of the above range, could leave the door wide open to some large buying pressure. Interesting to note, the expert panel of nine analysts with finder and its cryptocurrency report, seen a median forecast of $8200 by December.
BTC/USD bulls have continued to penetrate the resistance that lays just ahead, tracking from $6400-500 price region. A breakout above here, could see a fast move up to $7355, the top area 4-5 September. Further north, eyes will be on another target seen up at $8300 area 24-25 July, where BTC/USD then entered a deep bearish trend.
BTC/USD daily chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
