According to the H1 time – frame, I found that price broke intraday upward trendline in the background, which is a sign that sellers are in control. I also found potential ending of the upward correction (abc zig-zag), which is another sign of weakness. I expect lower price and potential testing of $6.294 (take profit 1) and $6.075 (take profit 2). Watch for selling opportunities.
Support/Resistance
$6.560 – Intraday resistance
$6.442– Intraday support
$6.294 – Objective target 1
$6.075 – 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 that price broke intraday upward trendline in the background, which is a sign that sellers are in control. I also found potential ending of the upward correction (abc zig-zag), which is another sign of weakness. I expect lower price and potential testing of $6.294 (take profit 1) and $6.075 (take profit 2). Watch for selling opportunities.
Support/Resistance
$6.560 – Intraday resistance
$6.442– Intraday support
$6.294 – Objective target 1
$6.075 – 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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