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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin analysis for August 03, 2018

analytics5b8d1d81d9dbb.png

Trading recommendations:

According to the H4 time - frame, I found few doji candles near the level of $7.263, which is a sign that buyers got exhausted and that buying looks risky. The price broken the Tenkan-sen line, which is a sign that Bitcoin might visit next support level at $7.030 (Kijun-sen). My advice is to watch for selling opportunities. The downward targets are set at the price of $7.030 and at the price of $6.883.

Support/Resistance

Resistance - $7.296

Target 1 (Kijun-sen) - $7.030

Target 2 (Top of the cloud) - $6.883

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