Monday 6 August 2018

Bitcoin BTCUSD: Looking weak after hitting cloud chart resistance!

Bitcoin BTCUSD: Looking weak after hitting cloud chart resistance!

We had a good rally from the 6000 buy zone in BTC until it hit the top end cloud chart resistance at 8210. It is now consolidating, with downside support at old cloud chart support levels.

Downside risk back down to the old support zones of 6427 at bottom end cloud support level!

Price action remain below the cloud, and this is overall bearish!


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