? Bitcoin & Cryptos Technical Analysis 14-18 August ’18 ?
Bitcoin (BTC/USD) is breaking through the support zone of the range after building a wave 4 consolidation pattern. More bearishness is also expected on ETH/USD which is breaking through multiple support zones.
Bitcoin (BTC/USD) is showing strong bearish momentum which makes a bearish breakout likely. The target and next support zone can be expected at $5,500 and $5,000 support areas. A clear bullish pattern needs to emerge at support before a reversal becomes more likely.
Ethereum (ETH/USD) made several bearish breakouts below the chart patterns and is showing strong bearish impulsive price action. At least one more wave 4-5 pattern is expected before a bullish bounce could take place.
Check out the video for the full analysis and trade plans on 14-18 August 2018:
- EUR/USD, GBP/USD technical analysis
- Review of patterns, trends, key S&R levels
- Explanation of potential trade ideas both up and down
- Beginner friendly, explaining concepts in more detail
See the video below for all of the details
Good trading,
Chris Svorcik
Elite CurrenSea
