Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Bitcoin analysis for August 01, 2018

August 2, 2018 Analytics

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Trading recommendations:

According to the H4 time – frame, I found that price rejected from the demand zone (support), which is a sign that selling looks risky. I also found the rejection of the upward trendline, which is another sign of potential strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $8.445.

Support/Resistance

$7.774– Intraday resistance

$7.413– Intraday support

$8.445 – Objective target

With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company – www.instaforex.com

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