Bitcoin closed on Monday, August 20, 2018, at price of 6284 USD (5448.51 Euro, 30074.28 Cedi, 2262742.72 Naira and 23428951 Shilling). The market is still bearish and is channeling between the 6200 USD and the 6700 USD.
Looking at the four-hour USDT price bitcoin has a major support at 5945USDT and if it rally again it major resistance will be at 7736USDT. Bitcoin is still below the 200 day moving average wish is a bearish indicator and below the 50moving average, therefore, no momentum. What I would do is wait for it to at least the price pass the 200 MA and the ETF outcome because Bitcoin price is still behind a death cross, the 200 crossing the 50.
Africa Cryptocurrency bitcoin analysis.