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RE: Market Snapshot - August 5th 2018
Today proved to be another challenging day within the Crypto markets as traders and investors saw the dreaded numbers in red once again. Since price closed below the $7,250 level of support, price has seen a sharp sell off which was expected after such a huge market manipulation that occurred last week.
The 4hr chart shows the huge sell off price has seen seen being rejected at $7,500 earlier in the week. This has proved to be a strong level in the past which could be a contributor to the nature of this sell off. The price could free fall down to the $6,800 region over the coming days as the charts show little to no previous noise between where we are currently trading and the $6,800 level.