13 July Bitcoin Price Technical Analysis: BTCUSD shifted to a lower range

Despite the massive crypto-bleed of 2018, Julian Hosp, the TenX co-founder remains optimistic, believing that the price of Bitcoin will reach an all-time high of $60,000. What is his thesis and how is the digital currency trading currently? Gain insight into today’s 13 July Bitcoin Price Technical Analysis.

13 July, GKFX – Bitcoin, the largest digital currency by market value, is changing hands at $6,245. The coin touched $6,075 during early Asian hours but recovered fairly quickly amid speculative positioning.

While the downside momentum is not so active during Asian hours, the end of the working week might bring in some volatility to the cryptocurrency market.

Bitcoin will finish the year at $60,000

Meanwhile, TenX co-founder Julian Hosp came out with a new bullish forecast, saying that Bitcoin price can reach $60,000 by the end of the year. He foresaw the slump to $5,000 with further recovery to $50,000 in the end of 2017, when Bitcoin was trading close to $20,000.

Now he raised his forecast even higher, despite bearish mood at the market. Hosp believes that such extraordinary spike will be triggered by a ‘massive positive event,’ such as good news from regulators.

13 July Bitcoin Price Technical Analysis

On the intraday level, BTCUSD is supported by $6,000. The resistance comes at $6,289, which is the lower line of a broken range. Once this level is cleared, the recovery may be extended towards $6,400.

On the downside, a sustainable movement below $6,000 will open the way towards  $5,792, which is the lowest level since June 29.

BTCUSD, the 1-hour chart


This article 13 July Bitcoin Price Technical Analysis was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

Share Your Opinion, Write a Comment