Bitcoin went up and did test the strong resistance at the price of $8.011. The 4H trend is still downward and buying at this stage looks very risky. Our advice is still to watch for selling opportunities.
Red downward cloud – Resistance
Span B Ichimoku –Top of the cloud resistance $8.108
Red line – Tenkan-sen (Support) $7.866
Blue line – Kijun- sen (Support 2) $7.760
Red rectangle – Support 3 ($7.457)
Yellow rectangle – Support 4 ($7.030)
Blue rectangle – Important resistance ($8.090)
The price did test and reject of the important resistance near $8.000, which is sign that buyers lost interest. We also found that price is inside of the4H Ichimoku Cloud, which is acting like resistance zone. Our advice is to in the direction of the trend. Watch for selling opportunities with downward targets at $7.457 and $7.030. As long as the BTC is trading below the Cloud, we are watching for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Bitcoin went up and did test the strong resistance at the price of $8.011. The 4H trend is still downward and buying at this stage looks very risky. Our advice is still to watch for selling opportunities.
Red downward cloud – Resistance
Span B Ichimoku –Top of the cloud resistance $8.108
Red line – Tenkan-sen (Support) $7.866
Blue line – Kijun- sen (Support 2) $7.760
Red rectangle – Support 3 ($7.457)
Yellow rectangle – Support 4 ($7.030)
Blue rectangle – Important resistance ($8.090)
The price did test and reject of the important resistance near $8.000, which is sign that buyers lost interest. We also found that price is inside of the4H Ichimoku Cloud, which is acting like resistance zone. Our advice is to in the direction of the trend. Watch for selling opportunities with downward targets at $7.457 and $7.030. As long as the BTC is trading below the Cloud, we are watching for selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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