Resell BTC | 16 August 2018

Technical Observation:

After attempting a breakout above $6524.15, BTC pulled back to the lowerside and is now below the line 6335. As I stated few days ago, while the price is below the three simple moving averages, 14, 52, and 152, I expect a possible rally to the lowerside with an ideal take profit at $5000.00. On its way to the lowerside, the key lines to look for include $6000.98, $5,629.0, and $5,572.00, if these lines are broken, then further momentum to the lowerside is expected with the next ideal take profit being $5,000.00.

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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.