30 Aug 18 - Bitcoin Snapshot

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4H Chart - Price Key Points:

  • Rejection at approx $7032.
  • Continuation at approx $6974.
  • Testing 200MA support.
  • Indicators weakened.
  • Stochastic RSI attempting to bottom.
  • Models hint to minor reversal.

30 Aug 18 - BitStamp - BTCUSD.jpg

Possible Scenarios (adjusted) :

Long: On a confirmed break above $6928 – Price Target $7117 | Probability: 38% | Signal Strength: 3/5

Neutral: Price Range $6797 - $6928

Short: On a confirmed break below $6797 – Price Target $6617 | Probability: 36% | Signal Strength: 2/5

Our Stance: Neutral to speculative short.