According to the H1 time frame, I found a series of higher highs and higher lows, which is a sign that demand is in control. I also found a testing of a rising upward trendline (support), which is another sign that selling looks risky. My advice is to watch for potential breakout of the bullish flag to confirm an upward continuation. The upward targets are set at the price of $7,769 and $8,093.
Support/Resistance
$7,753 – Intraday resistance
$7,515– Intraday support
$7,769 – Objective target 1
$8,093 – Objective target 2
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company – www.instaforex.com
Trading recommendations:
According to the H1 time frame, I found a series of higher highs and higher lows, which is a sign that demand is in control. I also found a testing of a rising upward trendline (support), which is another sign that selling looks risky. My advice is to watch for potential breakout of the bullish flag to confirm an upward continuation. The upward targets are set at the price of $7,769 and $8,093.
Support/Resistance
$7,753 – Intraday resistance
$7,515– Intraday support
$7,769 – Objective target 1
$8,093 – Objective target 2
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company – www.instaforex.com
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