(Kitco News) - Monday, August 15—August bitcoin futures prices are lower Monday morning and bears are fading after prices last Thursday spiked to a contract/record high and then sold off sharply to score a bearish “key reversal” down on the daily bar chart. See, too, at the bottom of the chart that the MACD indicator has just produced a bearish line crossover signal. These are early technical clues that a near-term market top is in place. See the important near-term technical support and resistance lines on the chart. Wyckoff’s Market Rating: 6.0 (out of 10.0, with 1.0 being the most bearish and 10.0 being the most bullish). 

 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.