According to the H1 time – frame, I found that BTC reached my yesterday’s target at the price of $6.400. Anyway, I found the 7-hour balance between the price of $6.427 (resistance) and the price of $6.400 (support), which is a sign of indecision. I also found that the level of $6.400 is also a potential end of the downward correction (abc flat), which is a sign that selling looks risky. My advice is to watch for buying opportunities if you see a breakout of the $6.427 (resistance). The upward target will be set at the price of $6.506. Anway, if you see a breakout of the support at ($6.400), this will open the room for the level of $6.335.
Support/Resistance
$6.427 – Intraday resistance
$6.400– Intraday support
$6.506 – Objective target
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 that BTC reached my yesterday’s target at the price of $6.400. Anyway, I found the 7-hour balance between the price of $6.427 (resistance) and the price of $6.400 (support), which is a sign of indecision. I also found that the level of $6.400 is also a potential end of the downward correction (abc flat), which is a sign that selling looks risky. My advice is to watch for buying opportunities if you see a breakout of the $6.427 (resistance). The upward target will be set at the price of $6.506. Anway, if you see a breakout of the support at ($6.400), this will open the room for the level of $6.335.
Support/Resistance
$6.427 – Intraday resistance
$6.400– Intraday support
$6.506 – Objective target
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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