BTC/USD, Daily Chart Analysis 8/13
Implications and Outlook
Even though the overall trading landscape is bleak, Bitcoin continues to be holding up nicely on top of the essential Mean Support $6220 price level; therefore a secular coin trend change isn't yet established by the most precious token. Having said that, a short-term reversal pattern did occur - dead-cat-bounce, giving 'Snipers' achieved the target of $6535.
Even though the overall trading landscape is bleak, Bitcoin continues to be holding up nicely on top of the essential Mean Support $6220 price level; therefore a secular coin trend change isn't yet established by the most precious token. Having said that, a short-term reversal pattern did occur - dead-cat-bounce, giving 'Snipers' achieved the target of $6535.
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