Post
Topic
Board Trading Discussion
Re: Bitcoin news and technical analysis
by
BitcoinCommodor
on 10/08/2018, 06:00:27 UTC
I also appreciate if someone can say the prediction of bitcoin prices for the current month. Smiley

A month is quite a long period for BTC, nobody goes that far with analysis. You can always consult a crystal ball if you believe in these things. The most basic analysis shows 6800 as lower support and 7150 as the short term upper support. If any of these break it will be followed by a bigger move. Going down would nullify inverse head and shoulders, showing that we still haven't had a real breakout and the bottom might not be in, while going above 7150 would suggest that the bottom is in and we are confirming higher lows.
 

Bitcoin price is getting a very strong support at that level. I think that the investors are too much confident about bitcoin at currency price. I think that they consider themselves too much safe at that level and therefore the bitcoin price is not going down anymore. It is expected now that very soon the investors will get more confident and they will surely start increasing their investment in bitcoin which will surely increase the bitcoin price too much.