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Bitcoin Price, technical, analysis for 07/31/2017, new

To determine what will happen with the uptrend from 1,835, we need to define the point where a large buyer can emerge from the trend or fix profits. It was

announced that by the end of the year or in early 2018, Bitcoin will be listed on the Chicago Board Options Exchange. To conclude, there were all signs for the price to. And the price continues its long-term growth. Bitcoin Price, technical, analysis for 07/31/2017, new Consolidation. Over the weekend, a number of exchanges already issued warnings to their clients about holding bitcoin deposits and the potential incompatibilities that may arise. Note that the triangle formation spans 2200 to 2900 so the resulting breakout could last by the same amount. Bitcoin price is stuck in consolidation as traders are biting their nails. Thus, if there is no support for the trend and a large player fixes profits, the fall is almost inevitable. Bitcoin is awaiting hard fork. Price is currently bouncing off the resistance and could be due for another test of support around 2600.00. Bitcoin is awaiting hard fork. So for a reversal, the demand volumes at the correction peak need to be at least equal to the ones, formed previously at this level. What does the current growth actually mean? In case this happens with no downtrend reversal, Bitcoin is likely to go over 3,000.

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Most likely scenarios, there is a possibility of a price correction to the 2,500 level before Aug. The fork aftermath, on Aug. Stochastic is on its way down so bitcoin price might follow suit. Strong growth from the peak of long-term correction suggests that there is support for investors. How scaling influenced the price, for several months, the main topic of discussion has been the hard fork case. On condition theres no reversal down during the pullback, Bitcoin has all the chances to go higher. RSI is also heading south to signal that sellers have the upper hand for now.

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Also, additional volatility is to be expected as the shift draws near as evidenced by the market reaction to the other weeks BIP 91 lock-in. The large buyer holds its main positions at 2,000, 2,300 and 2,500, which is backed by the price rise before SegWit2x. There was also an attempt to form a reversal down at the peak of the correction. In case there are big sales and the price falls into this zone, no downward reversal will mean the upward trend is still supported. Providing the trend structure keeps on, the 3,500 seems even more plausible. Therefore, if the current growth is supported, there will be no turn down at the 2,500 point. If you evaluate the demand, youll see that its volume is much larger, compared to July 13, when Bitcoin was trading at the same levels.

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The 2,300 level shows us the next confirmation for the uptrend and the price settles. On the other rate hand, weak support for the new version of the software could mean more losses for the cryptocurrency. The current addresses key level is placed at the largest trading volume around 2,800, the point, where the upward trend might break. What does the current growth actually mean? Trade NOW : Want to bitcoin trade Bitcoin? But once both oscillators hit oversold levels and turn higher, buying pressure could return. This could mean that the triangle support could be more likely to kpop hold as a sync floor than to break or that an upside forecast break past the resistance around 2750 might be underway. Bitcoin price is stuck in consolidation as traders are biting their nails ahead of a big market catalyst. Price movement is the result of the market demand and supply. Where will the price go after Aug. The maximum pullback level of the upward trend is at 1,830 to 2,800 range.