With the uncertainty surrounding August 1st, Bitcoin has been selling off hard this month. The RSI has just dipped into oversold territory, meanwhile the price is approaching four key levels of support:
.618 Fib Line
200 Day EMA
Previous Support at $1700 - 1750
Bottom of Short-term Channel
If the price touches at least two of these levels and finds support before August 1st, I believe it is a clear buy signal. Unless the worst happens and we are left with two competing Bitcoins, the price should surely recover once the dust settles, if not several days prior.
.618 Fib Line
200 Day EMA
Previous Support at $1700 - 1750
Bottom of Short-term Channel
If the price touches at least two of these levels and finds support before August 1st, I believe it is a clear buy signal. Unless the worst happens and we are left with two competing Bitcoins, the price should surely recover once the dust settles, if not several days prior.
Comment:
Looks like my buy target was slightly too low and too late as SegWit locked in earlier than expected. Congrats to anyone who bought around $1850 - $1950 !!!