Bitcoin

Bitcoin $BTC Forecast: Midweek Edition – Red

2018-08-01

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This edition features popular Bitcoin technical analyses from NewsBTC, ForexCrunch and DailyFX. Or jump right to today’s Bitcoin $BTC Forecast.

NewsBTC Analysis

View: bearish

bearish

Aayush Jindal of NewsBTC scribbles "BTC/USD Turned Short-term Bearish [and] Bitcoin price declined sharply below $7,840 support against the US Dollar. BTC/USD moved into a short term bearish zone with supports at $7,450 and $7,300."

ForexCrunch Analysis

View: bearish

bearish

FX Street of ForexCrunch declares "BTC/USD came under some heavy selling pressure on Tuesday, dropping over 8% over the day. [and] a potential shift in the short-term trend, at the demand area of $7500"

DailyFX Analysis

View: bearish

bearish

Nick Cawley of DailyFX pronounces "Latest sell-off needs to consolidate if prices are to move higher [and] Bitcoin (BTC) back at lows last seen one week ago"

Bitcoin $BTC Forecast

on Wednesday 1st of August 2018 04:23 PM UTC

bearishbearishbearish

The crypto pundits say: “bearish/bearish/bearish/”.

All three experts weigh in with bearish views today. The last uptick driven by technical indicators has fallen back to last week’s lows. One expert sees a potential direction shift at $7500.


[legal disclaimer] Just one news report can invalidate a technical analysis.

Disclosure

The author holds $BTC and other cryptocurrencies at the time of writing.

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