Bitcoin Today: Head and Shoulders?
Price
BTC has gone deeper into a supportive zone, approaching the last support level 7300 on the way to 7000, which was formed in July. The price did reacted to the level, so there is a chance to stay in the 7300 – 7600 zone. Otherwise, a breakthrough below 7300 will lead price to the 7000. Also, a breakthrough below 7300 will draw a "Head and Shoulders" pattern with the head at 8500 and left shoulder starting on July 17. This figure is well-known among traders and gets noticed frequently, so, such movement will add to the bearish scenario. From the other side, a bounce from 7300 will fit in the correction to the 6000 – 8500 rally scenario. For now, amid weekends, we expect the price to stay inside the lateral channel, probably 7300 – 7600.
Today forecast
Trading in the 7300 – 7600 zone. Possible breakdown to the 7000.
Main events of the week
BTC has gone deeper into a supportive zone, approaching the last support level 7300 on the way to 7000, which was formed in July. The price did reacted to the level, so there is a chance to stay in the 7300 – 7600 zone. Otherwise, a breakthrough below 7300 will lead price to the 7000. Also, a breakthrough below 7300 will draw a "Head and Shoulders" pattern with the head at 8500 and left shoulder starting on July 17. This figure is well-known among traders and gets noticed frequently, so, such movement will add to the bearish scenario. From the other side, a bounce from 7300 will fit in the correction to the 6000 – 8500 rally scenario. For now, amid weekends, we expect the price to stay inside the lateral channel, probably 7300 – 7600.
Today forecast
Trading in the 7300 – 7600 zone. Possible breakdown to the 7000.
Main events of the week
- Friday
- John McAfee’s ‘unhackable’ Bitcoin wallet got hacked
- Mt Gox creditors are preparing to claim for return the funds in Bitcoins. - Thursday
- Korean Crypto Exchange Bithumb Suspends Opening New Virtual Accounts
- Several vulnerabilities were detected in Monero(XMR) code - Wednesday
- South Korea to End Tax Breaks for Crypto Exchanges
- Japanese Bitcoin Exchanges Planning Tighten Trading Restrictions - Tuesday
- Net profit of Bitmain for the first quarter exceeded $ 1 billion
- Sky Mining CEO disappeared, $ 35 million disappeared along with him - Monday
- Google bans crypto-mining apps from Play Store
- Vitalik Buterin: too much attention is focused on bitcoin-ETF
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.