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