FX.co ★ Bitcoin analysis for August 30, 2018

Trading recommendations:

According to the H4 time - frame, I found that price was rejected from the upper diagonal of the upward channel, which is a sign that buying looks risky. Kijun sen (support) is on the test and my advice is to watch for breakout of the Kijun sen to confirm potential downward movement. I also found thin cloud in the background, which is a sign that support is weak. Watch for selling opportunities. The downward targets are set at the price of $6.528. $6.225 and at the price of $5.850.

Kijun-sen (purple line) - $6.800

Bottom of the cloud - $6.528

Swing low of the channel - $5.850

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