Bitcoin's price dropped again yesterday. As shown in the chart it already pulled back and form a head & shoulders pattern at the top, what is probably another reversal to the downside. A closing lower than the .610 extension line should trigger a downside movement towards 2514.
Goldman Sachs posted an update for their XBT analysis.
www.forexpf.ru/uploa...ges/534/534911_2.gif
To gain enough energy (look at MACD) to push through the 3000 USD line Bitcoin's chart needs some more time. Goldman's guess for the next downside wave ends somewhere near the 2000 USD level. For my trade I used the 1.618 extension line.
I think we will see another dip after the update on Aug 1st because of many exchanges halting their Bitcoin services. The moment the splitted chains are combined together again savely there should be a very fast movement to the upside. I expect this to happen between Aug 4th and Aug 8th.
ENTRY: 2550
TP1: 2332
TARGET: 2106
Happy trading!
Goldman Sachs posted an update for their XBT analysis.
www.forexpf.ru/uploa...ges/534/534911_2.gif
To gain enough energy (look at MACD) to push through the 3000 USD line Bitcoin's chart needs some more time. Goldman's guess for the next downside wave ends somewhere near the 2000 USD level. For my trade I used the 1.618 extension line.
I think we will see another dip after the update on Aug 1st because of many exchanges halting their Bitcoin services. The moment the splitted chains are combined together again savely there should be a very fast movement to the upside. I expect this to happen between Aug 4th and Aug 8th.
ENTRY: 2550
TP1: 2332
TARGET: 2106
Happy trading!