08.08.201814:20 Forex Analysis & Reviews: Bitcoin analysis for August 08, 2018

Long-term review

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Trading recommendations:

According to the 15M time frame, I found that sellers are in control. I also found a potential bearish flag in creation, which is a sign of weakness. My advice is to watch for a potential breakout of the upward trendline to confirm further downward continuation. The downward target is set at the price of $6.051.

Support/Resistance

$6.521 – Intraday resistance

$6.348– Intraday support

$6.051 – Objective target

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