Recently, Bitcoin has been trading downwards. As I expected, the price tested the level of $6.048. According to the H1 time – frame, I found an end of the upward correction (running flat), which is a sign that buying looks risky. I see strong selling pressure on the market and my advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $5.767.
$6.237 Intraday resistance;
$6.048– Intraday support;
$5.767 – Objective target ;
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The material has been provided by InstaForex Company – www.instaforex.com
Trading recommendations:
Recently, Bitcoin has been trading downwards. As I expected, the price tested the level of $6.048. According to the H1 time – frame, I found an end of the upward correction (running flat), which is a sign that buying looks risky. I see strong selling pressure on the market and my advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $5.767.
$6.237 Intraday resistance;
$6.048– Intraday support;
$5.767 – Objective target ;
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The material has been provided by InstaForex Company – www.instaforex.com
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