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 24, 2018

August 24, 2018 Analytics

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Trading recommendations:

According to the H4 time – frame, I found the buying climax in the background and the absorption of the climax, which is a sign that buying looks risky. I also found the key resistance zone at the price of $6,580 and my advice is to watch for selling opportunities. Watch for a breakout of upward trendline to confirm further downward movement. The downward target is set at the price of $5,845.

Support/Resistance

$6.580 – Resistance cluster

$6.350– Intraday support

$5.845 – Objective target

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

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