Technical analysis Bitcoin. BTC-USD on July 19, 2018

July 19, 2018


The zone above the “neck” of the reverse head and shoulders pattern looks like a good support, we can pull back a bit as a correction, but now lower 6800-7000 zone. Some indicators of middle and high timeframes still demonstrate their strength and the possibility to move higher. The downtrend line, which started on March, serves as a strong resistance now, we can go up to it once we test the support at 6800-7000, the growth can continue up to 7800-8000 zone. If the volume of the market increases, it can get the additional strength, which will give a chance to make one more impulsive breakout and touch the zone near 8400.

During the Bitcoin price fall, the alts can also move down, which will give the possibility of an additional entry with a lower price to get profit from the further hold.

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