05 Sep 18 - Bitcoin Snapshot

in #bitcoin8 years ago

4H Chart - Price Key Points:

  • Strong rejection at approx $7373.
  • Lower 200MA support at approx $6700.
  • Indicators negative.
  • Selling volume evident.
  • Momentum lost.
  • Models hint to a temp retest of the recent lows.

05 Sep 18 - BitStamp - BTCUSD.jpg

Possible Scenarios:

Long: On a confirmed break above $7014 – Price Target $7171 | Probability: 31% | Signal Strength: 2/5

Neutral: Price Range $6856 - $7014

Short: On a confirmed break below $6856 – Price Target $6703 | Probability: 36% | Signal Strength: 3/5

Our Stance: Neutral to short.