Bitcoin analysis for August 23, 2018

analytics5b7e980e9cb81.png

Trading recommendations:

According to the H4 time - frame, I found that BTC price rejected from the strong resistance zone ($6.803) in the background, which is a sign that buying looks risky. My advice is to watch for selling opportunities. The downward target is set at the price of $5.845.

Support/Resistance

$6.210 – Intraday resistance

$6.576– Intraday support

$5.845– Objective target 1

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company - www.instaforex.com