Updated

BTCUSD possible reversal zones after Aug 1 HF

The market could be selling the Bitcoins that were added after the Bitcoin Cash airdrop announcement. We could see a fall in prices temporarily, but we should see a reversal as soon as the market stops selling. However, I don't see the price dropping really low as some Bitcoin Cash could flow into Bitcoin since some people treat BCash as a shitcoin or maybe because of FUD.

This selling could also trigger a surge in altcoin prices so watch out for price action tomorrow.

I've set the probable zones for reversals from the least to the most extreme. See the chart above.

P.S. Don't base your trading decision from charts online. Always learn how to trade using the right strategies and mix it with proper money management.

Note

I forgot to include the possibility of a late buying surge. Bitcoin demand is really strong if you look at the market depth.

Still, a sell-off should happen after people receive their Bitcoin Cash tokens.

Note

3000 is possible given there's still 10 hrs to go before the HF

Note

Updated m123789y targets after before and after the HF. Still, a sell-off could happen after one of these targets are reached.

Note

Need to break 2,900, 2,910, 2930 to go more

Note

In a pitchfork, could go down to the bottom of the channel before going up to 2,900 again.

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I've read this somewhere in the internet before that Head & Shoulders pattern are very important. Look at what we have now.

clydeuscope

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clydeuscope