Are we bouncing ?? BTC Quick Analysis 4 Aug, 2018

4 ago 2018

There is no indicaters for today's Btc Update only a long trend + reversal pattern as sentiment is pretty different this time. In last Analysis we were expecting a breakout but there was a crucial trend line and Double Top that played extremely well & price dumped down below $8000. NO FUD this time behind this epic dip over $1300 as of currunt market price (may go more down due to bearish followup), ONLY Panic selling cause more panic and so on. at the time of writing bitcoin trading at $6967 against USD Pair. lets talk about trend reversal, After reviewing the market & price for over 2 hours, we redrew the support zone. There is a scenerio of reversal around $6732-6787, so we are expecting these levels for an better opputunity to join the upcoming Rally however do risk management for sure especialy in this kind of flash market. Incase if price breach this zone market could dip hard, There is no new money injecting in market therefor we are going down in MC as well.
There is always a PUMP Ahead after DUMP, its Market CYCLE, So BE Prepare for the Rally and try to catch the absolute bottom.

Good Luck