(17 JULY 2017)BITCOIN (in USD):Ready for a short-term bullish consolidation.

Ready for a short-term bullish 

consolidation.

(By Yann Quelenn)

• Bitcoin has strongly declined over the 

weekend. Strong hourly resistance can be found 

at 2417 (13/07/2017 high) and hourly support is 

now given at 1852 (14/07/2017 low). Expected to 

show some sustained short-term bullish 

momentum. 

• In the long-term, the digital currency has had 

an exponential growth. There are decent 

likelihood that the asset will consolidate above 

$1500. Long-term support is given at $1464 

(04/05/2017 low).