? Bitcoin & Cryptos Technical Analysis 31 July – 1 August 2018 ?

Bitcoin (BTC/USD) is moving sideways after a strong bullish impulse, which is indicating a likely wave 3-4 pattern. This remains valid as long as price stays above the 50-61.8% Fibonacci level. Ethereum (ETH/USD) however remains bearish and is building a bear flag chart pattern.

Bitcoin (BTC/USD) could retrace back to the 38.2% Fibonacci support level and bounce to complete wave 4. A bullish breakout above the pattern could see price move up towards the main target at $10k and complete a potential bullish wave 1.

Ethereum (ETH/USD) is breaking the bear flag chart pattern. Whether price will have a good or false breakout will depend on today’s daily candle.

Check out the video for the full analysis and trade plans on 31 July – 1 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