16.08.201813:30 Forex Analysis & Reviews: Bitcoin analysis for August 16, 2018

Long-term review

Exchange Rates 16.08.2018 analysis

Trading recommendations:

According to the H1 time - frame, I found that price broke that upward trendline in the background, which is a sign of weakness. I also found a potential intraday upward correction after the breakout and my advice is to watch for potential breakout of the support trendline to confirm a further downward movement. Downward targets are set at the price of $6.088 and at the price of $5.801


$6.040 – Intraday resistance

$6.205– Intraday support

$6.088 – Objective target 1

$5.801 – Objective target 2

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
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