Bitcoin Analysis - August 9th, 2017

in #bitcoin • 9 years ago

Hello traders,

Here's another look at bitcoin for the day....

Screen Shot 2017-08-09 at 12.43.17 PM.png

We're looking at a slight pullback from the ATH yesterday, and BTC found support at $3,261. Volumes are drying up though and it's facing a large resistance at the $3,385 level. If volume can increase and this level can be broken, I'd be wanting to see high bull volume to break the ATH resistance levels.

Overall, I'm not that optimistic that BTC can hold these levels. Again, market factors have decreased hype and interest is fading. RSI barely broke overbought indications before correcting down. MACD remains bearish, and CCI is still negative.

Let me know your thoughts and opinions. Please follow and vote. Always be careful and happy trading!

#analysis #price #cryptocurrency #ethereum
9 years ago in #bitcoin by
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