Bitcoin $BTC Forecast: Weekend Edition: Nosing Downwards

August 04 2018 18:11 UTC

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

Tecnologia Analysis

View: bearish

bearish

Rusbell Madrigal of Tecnologia contemplates "exponential moving averages to a bearish cross which can cause a fall in the price that touches the $ 5800 in historical support"

Bitcoin Exchange Guide Analysis

View: no opinion

no opinion

Azeez M of Bitcoin Exchange Guide reports "Price of Bitcoin is expected to rise because it has reached the support level of the market [and] the MACD line and the signal line are below the zero line which indicates a sell signal"

NewsBTC Analysis

View: bearish

bearish

Aayush Jindal of NewsBTC reads "buyers failed to keep the price above the $7,500 support, which could be a short term bearish signal [and] a strong buying interest near $7,250, which could ignite an upward move "

Bitcoin $BTC Forecast

on Saturday August 04 2018 18:11 UTC

bearishno opinionbearish

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

Time is of the essence, which in crypto land is an imperative in a volatile market. The expert views above were written before BTC/USD dove another -6.78% overnight to $7,011.90.

Looking at a strong bear market, and the Binance one day chart, the next major support level is at about $6500 where we saw five days of support in the early days of July.


[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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