According to the H1 time – frame, I found a breakout of the bearish flag pattern in the backgorund, which is a sign of weakness. Most recently, I found that another intraday bearish flag is in creation and my advice is to watch for a potential breakout of the support trendline to confirm further downward continuation. The take profit levels are set at the price of $6.288 and at the price of $6.075.
Support/Resistance
$6.463 – Intraday resistance
$6.359– Intraday support
$6.288– 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 a breakout of the bearish flag pattern in the backgorund, which is a sign of weakness. Most recently, I found that another intraday bearish flag is in creation and my advice is to watch for a potential breakout of the support trendline to confirm further downward continuation. The take profit levels are set at the price of $6.288 and at the price of $6.075.
Support/Resistance
$6.463 – Intraday resistance
$6.359– Intraday support
$6.288– 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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