Tuesday, August 13, 2019
The current key support $11'200 is holding well, however, we are at risk: the price is struggling to climb the $11'600 level.
Current support/resistance: $11'200/$11'600
The price continues to contract, we see reduced volumes as well as higher lows and lower highs. Many writers are suggesting a calm before the storm. Chinese banks are building their own cryptocurrency that should be released soon. However, it won't be based on a blockchain, which may reinforce interest in more decentralised cryptocurrencies.
Indicators are not in the red but shall soon give a sell signal if the trend continues.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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