Bitcoin Daily Forecast - 1 July 2019


Bitcoin rallied significantly during the trading session on Friday, gaining roughly 15% by the time the market started to close. That being the case, we are seated extraordinarily high amount of volatility at this point, and I think that the market is getting way ahead of itself in both directions. This is a very difficult market to be involved in unless you are either a long-term trader or trading small positions.

With that in mind up taking a look at the market from a longer-term standpoint and I recognize that there is a definite bullish slant to the market, but ultimately this market suggests that we are going to see a lot of noise in this area. However, there are lower highs over the last three days so I think that we still have a bearish issues ahead of us. With that being the case, the market is simply come too far too quickly so look at short-term pullbacks as potential buying opportunities and as I previously mentioned, $10,000 could be an area of value. We didn’t quite get down there but certainly tried to make it happen.

Great trade opportunities are waiting - don't wait to profit from this pair!

With the meteoric rise of Bitcoin recently, it has attracted a lot of attention. That’s a good and a bad thing when it comes to this market, because it isn’t necessarily the most liquid out there. However, if we were to break down below the $10,000 level we could see value hunters come in as well. In other words, I have no interest in shorting this market but I do think that we will get a pullback in order to take advantage of. Once we do, then I think the next target would be the $14,000 highs again, and then possibly the $15,000 level after that. As things stand right now, I have no interest in shorting.


Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.