Bitcoin price technical analysis

Bitcoin price technical analysis perspective view

Steady decline Bitcoin price and many Crypto experts argue not to buy crypto coin unless another price resistant rally. I am going to show you a short technical analysis about Crypto major assert. It was above $800B on January 7, 2018 but by the gradual it has gone down trade and now briefly falling below $200B earlier this week. Bitcoin price technical analysis Aug 2018.

So you notice about Bitcoin -70% back from it`s peak, Ethereum –80%, Litecoin -85%, Ripel -91%

Bitcoin price technical analysis perspective view BTC/USD

August 17, 2018 Bitcoin trade recommendation (BTC/USD). We think there has a lot of sellers in the market. We think it could go through down trend $5100 to $5000 and then it`s bounce there is a low volume. Unfortunately, it goes deep down trend may be $4100 an for the long run it could $2900.

Another case of a short term bullish trends the price will touch potentially $6800 to $7000 support as possible and sell immediately won its target is hit. The current price is 50/50. If the resistant go upper to $7200-$7400 maybe it could back $7000. They’re also a cause topped out.

To get clear idea to start Bitcoin trading you might watch some popular YouTube crypto channels to make you crypto trading analyzer. There are many YouTube videos on Bitcoin market and they analytics how to trade crypto.

btc trading
Source: Stockcharts.com

The daily chart is looking pretty good and the volume is pretty good. The current price is very critical. If you are looking for a bullish case or something a bearish case the currency price movement will give you an idea. Bitcoin usability and stability continue to improve.

Finally, Bitcoin still downtrend As 200-Day MA Caps Prices. The bull has stepped repeatedly to define $6000 level. We also aspect a bearish resistant level at $8000.

  • Bitcoin worth looks, by all accounts, to be shaping a reverse head and shoulders style on its 1-hour time span.
  • This is viewed as associate degree exemplary inversion flag and if thoroughbred, price may pull up from its previous drop.
  • Specialized markers area unit in addition mirroring the distance of optimistic force.

Summary of Strategy

Buy: As close to $6200 as possible.

Target: $7000-$7200

Stop: $5800

As of this writing, the BTC/USD pair is trading at $8,198.29 on Coinbase.

Written by Md Rajib
I learn every day with cryptocurrency sphere. I love Blockchain and cryptocurrency so I am going to share my knowledge who are interested at digital currency. I am also a digital cryptocurrency enthusiast and online marketing expert. I worked a long time as an expert on SEO & WordPress platform.

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