August 1st BitRabbit K-line Analysis

[BitRabbit_Official]

BitRabbit K-line Analysis is written and updated daily by BitRabbit risk managers in order to help aid investment decisions.

BTC/USDT predictions:
Prices today will mainly be short. Pay attention to if prices break below the support floor at 7318 where prices will continue to be short if so.  If prices can’t breakout from 7318 to 7548, there will be a short fluctuation in that area.

ETH/ USDT predictions:
Prices today are trending short. If prices break below the support level at 400, there is a chance for prices to stabilize. Pressure is at 440. If prices breakout from the pressure ceiling there is a chance to put an end to the bear market.

BCH/USDT predictions:
Prices today are mainly short. Support is at 728, while pressure is at 776. Today attention should be paid to if prices can stabilize around 717 to 728.

EOS/USDT predictions:
Prices today will mainly be fluctuating at a low level. Keep note of support at 7. If prices don’t break below 7, there is a chance for fluctuation at a low level to form. Pressure is at 7.3. If prices breakout from the pressure ceiling, it will effectively end the market slump.

LTC/USDT predictions:
Prices today are bullish at the bottom. If prices don’t break below support at 76, prices will tend to fluctuate at a low level. Pressure is at 79.

Daily investment suggestions: Major tokens are bearish. It is recommended to day trade.

Disclaimer: This analysis was made by a BitRabbit analyst, the opinions in this article only represent the personal opinions of said analyst. This article should only be used as a reference, and not be taken for investment advice. Investors should make decisions and trades independently. BitRabbit does not take responsibility for all direct or indirect losses incurred by the investor. 
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[GraingerTainMian]

Each of your directions is very helpful. I think everybody should read it before investing in Bitcoin. Thank you for sharing the article. I think Bitcoin is the most powerful and secure.

[Vengeance007]

Short but handy report.  Hope it would help many of newbiews who is searching to know about overall today. Bitrabbit is a good to know exchange website. Do they publish day to day analysis report such as this?

[JohnCallahan]

Both ETH and BTC market is facing some corrections due to the sudden rise of BTC up to 8,200$ mark and now dropping to 7,500$ level. ETH market faced difficulty because of a lot of people exchanging their ETH for BTC. However, currently, the hashrate for BTC is at an all time high, which indicates that BTC is surely bouncing back and hopefully, we will see increased demand for ETH again.

[harrypot]

I think ETH and BTC are the coins that faced most damage due to the recent correction. However, with many good news coming in which includes the next hearing of ETF on 10th August and BTC reaching a all time high hash rate will definitely help the market situation to change.

[AntonDalrymple]

BTC is facing some corrections due to suddenly going up in the last few days. But we expecting the price to go up because the hashrate for btc mining is increasing. However, most altcoins price depends on btc so if btc goes down then it takes down the alts with it. But nothing to be afraid of as we'll see better prices in the future.

[TonyRodriguez]

The predictions look quite good. But we can not fully rely on then. But i think bitcoin will probably have some growth in the second week of August.

[SunriseSecret009]

This is going really confusing. I was hoping that price will go upwards but they are still in bearish status. Lots of people are going to leave the market from my point of view.

[YuginKadoya]

BTC/USDT predictions:
Prices today will mainly be short. Pay attention to if prices break below the support floor at 7318 where prices will continue to be short if so.  If prices can’t breakout from 7318 to 7548, there will be a short fluctuation in that area.

Well 5 days had past and yes the price had break down even further down from $7,318 to $6,458 USD I guess this is what we call correction after a movement going up and then it will now try to maintain its price from there and go again to $7000 value, Then it will sure move again even further up, I really think the movement is making a rinse and repeat process just like what it always do in the past, Well there are other coins that doesn't making any progress yet and have fall down when the price of bitcoin risen, I really think there is a problem with their own system.