FX.co ★ Control zones for Bitcoin on 07/08/19

Yesterday, the pair tested the monthly control zone of August. This led to a sharp increase in supply and the formation of a correctional model. While the price is above the level of balance, it indicates the strength of the upward movement. The probability of updating the monthly maximum remains.

To continue the growth, it is enough to keep the price above the balance. Therefore, purchases opened at the beginning of the current month or at the end of the past can be kept and transferred to breakeven.

For the formation of a corrective or reversal downward model, it is required that the balance be higher than the current price. This can happen through finding prices in flat. A session absorption pattern has already been formed and closing trades below yesterday's low will open the way for a fall to $10,000 per bitcoin.