FX.co - BTC analysis for August 07,.2020 - Watch for potential long entries on the dips with the target at $12.160

2020-08-07T11:38:19

Relevance until2020-08-09

As I discussed in the previous review, the BTC is trading in the up cycle and with the breakout of the ascending triangle.

Further Development

BTC analysis for August 07,.2020 - Watch for potential long entries on the dips with the target at $12.160

Analyzing the current trading chart, I found that buyers are in control and there is potential for the test of $12,160.

The Bollinger bands are in expansion, which is sign that there is good volatility on the BTC.

Wait for the pullback for the long entry towards the $12,160

Key Levels:

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for August 07,.2020 - Watch for potential long entries on the dips with the target at $12.160