Technical analysis Bitcoin. BTC-USD August 13, 2018

August 13, 2018


There is still no confirmation of the reversal, we are still in the downtrend. The current situation looks like the correction of the fall with the further movement to 5800 level and possibly to the bottom edge of the wedge. Until we are inside of the pattern the trading within 6000-8000 levels looks risky, it is difficult to understand the further market movement now. The right decision now is to buy near the bottom edge of the pattern (there is a high possibility to bounce from this level after the long fall) or below 8500 (the breakout of this resistance will indicate the growth to the previous levels.

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