FX.co ★ Bitcoin analysis for August 03, 2018

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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