Trading plan: BTCUSD (Bitcoin)

21 Jul 2018

Current situation:
Consolidation of Bitcoin's rate dragged on for a long time. We want to remind that the trend is still bearish, therefore it is better to make the probable deals for the sale of Bitcoin.
Key levels are used by traders to: identify immediate targets, limit losses, fix profit, entry points.
Resistance levels:
$8000;
$7740.
Support levels:
$ 7241;
$ 6850;
$ 6590;
$ 6108;
$ 5942.
Forecast:
The drop of Bitcoin's rate from $ 7241 to $ 6850.

21 Jul 2018

Nota

Trend Analysis: BTC / USD (Bitcoin)
The trend for Bitcoin remains descending. The cancellation of the bearish trend will be confirmed by the breakdown and fixing of the Bitcoin price above the level of $9400. The forecasted level of the end of the correction on BTC / USD is the price zone: $7400- $7600, there is the resistance line of the previously broken figure triangle.

Current situation:
Yesterday Bitcoin's price came down from its consolidation zone in the $7300- $7600 zone. The exit from this zone was made through taking the price of BTC / USD up to the level of $7700, after which the quotation rushed down, breaking the resistance level at $7380. To date, the price is trying to fix below this level. If it succeeds, we predict a price decline to previously announced levels: $6800, $6660.

Key levels are used by traders for: determining immediate targets, limiting losses, fixing profits, entry points.

Resistance levels:
$7400;
$7600;
$7700;
$8000;
$8400;
$8800;
$9400.

Support levels:
$6800;
$6660;
$6276;
$6354;
$6100;
$5940;
$5780;
$5085.

Forecast:
The forecast remains the same. The decrease in the price of Bitcoin from the $7300- $7500 zone. The target of the BTC / USD quotation decrease is $6660.