Daily Crypto Price Analysis (Bitcoin 2nd August, 2018)

As expected, Bitcoin came into a projected support area for wave (iv), so we should be aware of a bounce here around ideal 38,2% Fibonacci retracement at that base channel resistance line, which can act as a support now. So, if we get a bounce, followed by a break back above 8k area, then this would be a good indication of a reversal into wave (v). Even if correction goes more complex here in wave (iv), we will remain bullish, while it’s above the $6800 invalidation level.