Bitcoin Forecast July 31, 2018

Bitcoin markets drifted a little bit lower during the trading session on Monday, breaking below the $8000 level. The move was especially strong in the afternoon during New York trading, and was very sudden. We were down roughly 4% as I record this video, and it looks as if we are going to make a beeline towards the $7500 level again. If we do, and the market breaks below that level, then I think the downtrend continues. Otherwise, if we find buyers near $7500, it could be an attempt to turn things around and break down through the last vestiges of a downtrend line. That would be an extraordinarily bullish sign for bitcoin, perhaps sending it to $10,000 over the next several weeks. I believe the next few days are going to be crucial for the future bitcoin.

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