According to the H4 time – frame, I found that Bitcoin is balancing at the price of $6.405. Anyway, I found that a potential ascending triangle (bullish pattern) is being in progress, which is a sign that buying is a preferable strategy. My advice is to watch for a potential breakout of resistance at $6.460 to confirm a further upward movement. If you see a breakout of resistance, take profit level will be set at the price of $6.710.
Support/Resistance
$6.460 – Intraday resistance
$6.317– Intraday support
$6.710 – 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 H4 time – frame, I found that Bitcoin is balancing at the price of $6.405. Anyway, I found that a potential ascending triangle (bullish pattern) is being in progress, which is a sign that buying is a preferable strategy. My advice is to watch for a potential breakout of resistance at $6.460 to confirm a further upward movement. If you see a breakout of resistance, take profit level will be set at the price of $6.710.
Support/Resistance
$6.460 – Intraday resistance
$6.317– Intraday support
$6.710 – 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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