Upward Pattern Limited, Downward Trend Projected

GAEA Trading
Aug 31, 2018 · 1 min read

GAEA Investment Research Center — Overnight, the BTC shock reduced to around $6,800 and quickly stabilized. It then rose to a maximum of $6,978 earlier this morning in Asia. The daily K-line test gained support in a short period of five days. It indicates that the disk continued to maintain a volatile upward trend. Right now, the daily k-line is maintained above the short-term moving average, and it is expected to move further upwards.

However, the two highest spot at the beginning of May and at the end of July form a downward trend, which may limit the BTC upside, and the pressure will be around $7500, causing directional choices.

ETH follows the BTC rhythm, but it is obvious that the relative trend is weak.

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