Analysis:
This entry was posted on Wednesday, 15:05, UTC. The main coins are still in short term correction mode after the strong meeting of last week, as BTC dipped by more than 10% of its highs. The most valuable coin dipped under $2450 but bounced off the strong support zone near that level, while the short-run MACD indicator is headed toward the territory already oversold. With the long term image still supporting further backwards, this is probably a good entry point for traders, while the area of $2300-$2350 provides a relatively limited opportunity of stop loss. --discuss and ask questions in our community about the workplace. Don't you have an account? Send an email to Jonas Borchgrevink.
BTC/USD, 4-Hour letter analysis
The other commanders are also lower, but Dash is still showing strength, while Litecoin, Ripple, Nero, Ethereum Classic, and Nero are holding above or near strong support areas. The correction was partly triggered by a wave of regulatory news from the SEC and China, and although the smaller currencies were more affected by the ads, the whole segment was put under pressure.
BTC also sold in the news about a fork attempt, Bitcoin cash, but so far, losses are limited in comparison to recent gains, and the rupture of the declining trend remains intact, despite constant fears about August 1. With the main major stores at critical levels, let's see how the graphics are forming.
