Bitcoin

Bitcoin $BTC Forecast: Tuesday Edition: Headed South

August 07 2018 18:11 UTC

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This edition features popular Bitcoin $BTC technical analyses from NewsBTC, Bitcoin Exchange Guide and Investing.com. Or jump right to today’s Bitcoin $BTC Forecast.

NewsBTC Analysis

View: no opinion

no opinion

Sarah Jenn of NewsBTC says "Bitcoin price is still in correction territory as it hangs around the area of interest around $6,800 to $7,000 [and] a bounce could allow the uptrend to resume [and] a break below this key level could mean a continuation of the longer-term selloff"

Bitcoin Exchange Guide Analysis

View: bearish

bearish

Dalmas Ngetich of Bitcoin Exchange Guide elucidates "there is literally no support for Bitcoin (BTC) bulls. In fact week over week, Bitcoin is down 14 percent and when we consider a top-down approach, we might likely see further Bitcoin (BTC) losses this week"

Investing.com Analysis

View: bearish

bearish

Automated Signal of Investing.com perceives "Moving averages: SELL [and] Technical Indicators: STRONG SELL"
Published: August 07 2018 14:03:32 – Real-time Data

Bitcoin $BTC Forecast

on Tuesday August 07 2018 18:11 UTC

no opinionbearishbearish

The crypto pundits say: “no opinion/bearish/bearish/”.

Two bears and one no opinion all suggest Bitcoin could be heading south. If there is a bounce up then the uptrend could continue. However, not many signals lend weight for a bullish move. Probability? $BTC is headed south.


[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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