BTC price analysis 28 August 2018


Bitcoin had a nice pump today and we think this will look interesting for the future.
As we are technically still in a bear market I wouldn’t advice to jump in for longs.
The short squeeze is getting lower and we are on a critical level of support.

As I wouldn’t jump in now, the level of 7100$ would suggest a bullish sign and I would expect it to go further from there.

The chances are bigger for a sell out (70/30) so my advice stays on sell now, buy later. Or set a stop loss at 7010$ to watch it going to pass the 7100$ level.

Also keep in mind that the dominance of Bitcoin dropped (I know it is a little bit) but this could suggest a run for the alt-coins.


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