08 Aug 18 - Bitcoin Snapshot
4H Chart - Price Key Points:
- Triple declining continuation at approx $6999, $6717 and $6589 respectively.
- Temp base at $6457.
- RSI and Stochastic RSI attempting to bottom.
- MACD with a bearish cross.
- Volume hints that confidence is significantly weakened.
- Possibilities increase for another leg down.
Possible Scenarios:
Long: On a confirmed break above $6584 – Price Target $6804 | Probability: 30% | Signal Strength: 2/5
Neutral: Price Range $6370 - $6584
Short: On a confirmed break below $6370 – Price Target $6064 | Probability: 41% | Signal Strength: 4/5
Our Stance: Neutral to short.
You write well, @teslaman!