Bitcoin Price Analysis: Bulls’ Summer Vacation or Bear Trap? (Week of July 20th)

Bitcoin Price Analysis: Bulls’ Summer Vacation or Bear Trap? (Week of July 20th)

BTC price at press time: US$276. Last week’s price alert began with: “The RSI became overbought and it now correcting that condition. The price is testing support levels now and needs to hold. Nevertheless, RSI is on a buy signal. Right now, 50-55 looks like the support area in RSI. The Money Flow Index is also on a buy signal and in bullish territory. OBV has begun picking up slightly but is not convincing; it is not at the pace one would expect with the rise in price. It would be good to see volume confirm price. A line of resistance has been drawn through the OBV chart and it still has....


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Quotes

The bitcoin blockchain ‘is an opportunity for Wall Street to streamline some operations that are pretty antiquated.

Duncan Niederauer, former CEO of NYSE Euronext