A hot summer days use to be boring for trading. The BTC/USD pair has oscillated between $ 85-100 for the last two weeks. That means the market is still in the downtrend technically, though current price action doesn’t imply we will see any powerful sell-off in the near future. As stated in the last post, $100 level is a border line separating current downtrend from expected (coming sooner or later) uptrend.
Trading points (Bitstamp chart) for the coming week:
Buy point: Now or above 93.00 SL: 88.00 TP: 99.00; 105.00
Sell point: 87.70 SL: 92.00 TP: 85.30; 83.00