Technical analysis Bitcoin. BTC-USD on July 30, 2018

July 31, 2018


On 1 week timeframe, the price is testing 50MA which is strong resistance. Most probably there will be not enough strength of the asset to overcome it. We can go down to 8100 level. On 6 hours timeframe, we can pull back and get the correction of the previous growth of 61% (level Fib 0.618), from which will form one more impulse to continue the bullish trend. However, on 1-week timeframe MACD is crossing and ready to move up taking the price with it, as we mentioned earlier, Stoch RSI looks bullish. In order to continue the positive scenario, we need to remain in 8125 zone. If Bitcoin goes down to 7900 level, we do not recommend to make trades with alts on the big amount of money.

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