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BTC DOWNSIDE RISK DEVELOPED to $1,800: BULLISH FOR AUGUST $4,000

COINBASE:BTCUSD   比特幣 / 美元
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Current price action shows the potential for a pullback. We believe several hedge funds are getting in here and shorting this trying to drive price down. We could see near term $1,800 level on BTC             but still believe $3,000 to $4,000 by AUGUST is likely. If we get too many hedge funds with a negative bias toward BTC             we may need to reevaluate the sentiment. Also WATCH ETH as it may be a safe haven play against a drop in BTC             price as some instability develops. Hedge funds are unhappy with BTC             blockchain and the slowing speed of transactions. There's no reason for this as improvements will be made in time beginning in August. Although this could cause a sharp rise in ETH pushing that price even into the $1,000+ range very soon.
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