06 Aug 18 - Bitcoin Snapshot

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4H Chart - Price Key Points:

  • Confirmed double rejection at approx $7095.
  • 20MA crossed under 200MA.
  • 200MA resistance higher at $7206.
  • Indicators render a new pair of positive divergences.
  • Negative volume evident.

06 Aug 18 - BitStamp - BTCUSD.jpg

Possible Scenarios (unchanged) :

Long: On a confirmed break above $7086 – Price Target $7269 | Probability: 36% | Signal Strength: 3/5

Neutral: Price Range $7086 - $6925

Short: On a confirmed break below $6925 – Price Target $6759 | Probability: 31% | Signal Strength: 2/5

Our Stance: Neutral, might enter speculative longs.