According to the H1 time – frame, I found that BTC rejected from the supply zone at the price of $4.000. BTC is in short – term balance and I would like to see the breakout of the upward trerndline to confirm potential downward continuation. My advice is to watch for selling opportunities below the upward trendline. The downward target is set at the price of $3.450.
Support/Resistance
$4.000 – Intraday resistance
$3.830– Intraday support
$3.450 – 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 rejected from the supply zone at the price of $4.000. BTC is in short – term balance and I would like to see the breakout of the upward trerndline to confirm potential downward continuation. My advice is to watch for selling opportunities below the upward trendline. The downward target is set at the price of $3.450.
Support/Resistance
$4.000 – Intraday resistance
$3.830– Intraday support
$3.450 – 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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