Bitcoin analysis for August 16, 2018
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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