16 Aug 18 - Bitcoin Snapshot

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4H Chart - Price Key Points:

  • Temp rejection at approx $6446.
  • Temp support at approx $6272.
  • 20MA in possible converging with 50MA (unconfirmed).
  • Indicators in line with price.
  • Volume low.
  • Additional consolidation possible.

16 Aug 18 - BitStamp - BTCUSD.jpg

Possible Scenarios (unchanged) :

Long: On a confirmed break above $6450 – Price Target $6629 | Probability: 37% | Signal Strength: 4/5

Neutral: Price Range $6450 - $6309

Short: On a confirmed break below $6309 – Price Target $6142 | Probability: 34% | Signal Strength: 3/5

Our Stance: Neutral.