Cryptomarket Analysis July 17
Main page Finance, Cryptocurrency, Bitcoin, Ethereum, Dash
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17 July
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What happened with bitcoin, ethereum and dash rates over the past 24 hours.

Bitcoin

At the moment bitcoin (Bitcoin) is consolidating in the $6,664 – 6,755 range. Keeping in mind the buyers’ activity, there is a high probability of further growth.

Daily Scenarios

1. Bullish

The main goal for bulls is to push the resistance to the $6,800 level. In the past, its attack has ended with a strong sale. In case of a breakthrough, bitcoin may jump up to $7,700 as there lays a rather weak market structure (above $6,800 level). Today, it’s possible to fix a test of $6,664, a turnback and an attack at $6,770 – 6,800. It will be interesting to supervise the sellers’ activity in this area. In case of a breakthrough, growth of up to $ 7,250 and even higher is possible.

2. Neutral

Neutral scenario proposes a test of $6,800 and a consolidation in the $6,664 – 6,770 area.

3. Bearish

Yesterday’s bearish scenario is back. We can possibly see an unsuccessful attack at $ 6,800 and a decline in the range of $ 6,518 – 6,610.

Ethereum

Ethereum (ETH/USD) has attacked the upper border of the high-volume area ($483). At the moment, the cryptocurrency is consolidating before another attempt at growth.

Daily Scenarios

1. Bullish

Bullish scenario may reveal an attack at $483 – 496, a consolidation above the border of the high-volume area, and then a growth to $516 – 525 with a possible test towards $545.

2. Neutral

We can expect fluctuations in the current area and an attack at $483 followed by a decline to $466.

3. Bearish

Bears may see a decline in the $445 – 455 range and further consolidation.

Dash

Yesterday dash (DASH/USD) demonstrated an exit from the wedge. The cryptocurrency has tested the $252 mark and is currently preparing for yet another attack.

Daily Scenarios

1. Bullish

Today, the main targets for buyers are $260 and $272 - the levels that has repeatedly appeared as a resistance in June.

2. Neutral

Neutral scenario foresees an attack at $252 and a consolidation in the $242 – 249 area.

3. Bearish

The bearish scenario includes an unsuccessful test of $252 and a decline to $231.

Trading in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and Insider.pro are not liable for the potential losses incurred.

By Yana Sher

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