(17 JULY 2018)Bitcoin / Dollar:As long as 6595 is support look for 7017

(17 JULY 2018)Bitcoin / Dollar:As long as 6595 is support look for 7017

17 July 2018, 10:10
Jiming Huang
0
32

btc

6595 is our pivot (invalidation) point.

Our preference

As Long as 6595 is support look for 7017.

Alternative scenario

The downside breakout of 6595 would call for 6436 and 6341.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just

overbought and therefore bound to correct (look for bearish divergence in this case). The

MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading

above both its 20 and 50 MAs (respectively at 6687 and 6563)

(By Swissquote TRADING CENTRAL) 

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