On Monday the 31st of July, trading on the bitcoin closed up. On the Bitfinex exchange, the BTCUSD pair restored from 2,694 USD to 2,883 USD. Overnight, the user-activated soft fork BIP 148 was activated on block 478,484. Now, another lock-in is expected on the 8th of August.
Technical picture: After the activation of BIP 148, the tactic of buying on expectations and selling on facts worked out. The BTCUSD rate fell by 235 USD (-8.13%) to 2,666.15 USD after an unsuccessful attempt at breaking the 2,900 USD resistance.
After a sharp rise or drop, the price quickly rebounds. At the time of writing this review, the bitcoin has already restored to 2,782 USD ( 4.5%). I’m predicting the bitcoin to continue rising to the resistance at 2,820 USD, which was a support level on Monday. If the price rises to 2,816 without any rebounds, get ready for a rise in quotes up to 2,896 USD.
BTCUSD rate, 4-hour chart on Bitfinex exchange. Source: TradingView