Bitcoin analysis for August 30, 2018
According to the H4 time – frame, I found that price was rejected from the upper diagonal of the upward channel, which is a sign that buying looks risky. Kijun sen (support) is on the test and my advice is to watch for breakout of the Kijun sen to confirm potential downward movement. I also found thin cloud in the background, which is a sign that support is weak. Watch for selling opportunities. The downward targets are set at the price of $6.528. $6.225 and at the price of $5.850.
Kijun-sen (purple line) – $6.800
Bottom of the cloud – $6.528
Swing low of the channel – $5.850
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