Bitcoin analysis for August 07, 2018

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Trading recommendations:

According to the 15M time frame, I found that price found resistance at the pivot resistance 1 ($7,067), which is a sign that buying looks risky. I also found a low close doji pattern and bearish cross on the stochastic oscillator, which is a sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $6,936 and at the price of $6,811.

Support/Resistance

$7,067 – Intraday resistance

$6,936– Intraday support

$6,936 – Objective target 1

$6,811 – Objective target 2

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