Bitcoin Price Weekly Update: 5th-11th August 2019

by | Aug 5, 2019 | News | 0 comments

Happy new fellas! I hope this article meets you well because I am as excited as a free little bird. Today the sun shone on bitcoin price to grace our pockets.

Last week was a preparation for this very glorious day that sets bitcoin price on the next road to the moon. Though a lot of skepticism erupted and were quite unavoidable as the giant began an unprecedented dive.

Today I can gladly say to you that bitcoin price is aiming for the moon. You might just grab your own small share now or FOMO later. Nevertheless, do your own research before diving into the universal excitement.

Now let’s look at what we have.

Below, on the 4hr chat bitcoin price recessed to $9,360, bounced and was rejected by resistance at $10,769. This made it return to $9,360 effecting a double bottom (this is confirmation 1).

Considering the EMAs, 10 and 50 have successfully crossed 200 (confirmation 2).

The MACD has had a bullish cross over in the bullish region. This depicts a continuation of the uptrend and not a reversal.

So, with this little investigation report of mine, hope I have been able to convince you that bitcoin price is very very bullish aggressively.

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Bitcoin Price Next Action

I presume bitcoin price will bounce to $12000, have a slight pull back and then move to $12,887. So if you place a trade on this you can make target 1 $12,000, target 2 $12,887, and target 3 $14,000.

Looking at the technical indicators:     
Major Support Level – $10,769

Major Resistance Level – $12,000

Our Recommended Exchanges for placing Crypto Trades

for USD/BTC:

for Naira/BTC: 

If you have any questions, leave it in the comment section below.

Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.


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Leke Kayode
I'm an aircraft engineer and mechanical engineer by qualification. By profession I'm an I.T professional, forex trader and cryptocurrency trader. Derive joy impacting people.