09 Aug 18 - Bitcoin Snapshot

4H Chart - Price Key Points:

• Average support at approx $6308.
• 200MA resistance at $7209.
• 20MA, 50MA and 100MA all downward sloping.
• Indicators signal a possible temp bottom.
• Buying volume evident
• Market attempting to stabilize.

Possible Scenarios (unchanged) :

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: Speculative longs.