FX.co ★ Bitcoin analysis for July 23, 2018

Trading recommendations:

According to the 30M time - frame, I found that price rejected from the resistance level at $7.658, which is a sign that buying at this stage looks risky. I also found a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. Wait for a bearish flag to confirm a downward movement. I expect a potential downward correction before potential upward continuation. The downward targets are set at the price of $7.400 and at the price of $7.175.

Support/Resistance

$7.660 – Intraday resistance

$7.600– Intraday support

$7.400 – Objective target 1

$7.175 – Objective target 2

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