CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

For general questions, please read our F.A.Q.
Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.

 

14.TECHNICAL ANALYSIS: BTCUSD (Published: 03rd Jul, 2017)

The upper trend line is acting as a strong resistance level where the price failed to surpass for several attempts. Hence, even as the price is testing this resistance again, it is likely to fail and drop to the lower trend line, which is around $2400. If the bearish force is strong enough, the price might even drop to the $2300 support level, where the previous double bottom located. Investors should wait for the reversal and a solid confirmation signal, which is the price surpassing the upper trend line at around $2530, to enter a long trade.

© 2017-2018 Cryptomover.com