According to the H4 time – frame, I found that BTC is still trading inside of the trading range between the price of $6.456 (resistance) and the price of $6.319 (support). I also found that buying cliamx in the background, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the support to confirm further downward continuation. The downward targets are set at the price of $6.164 and at the price of $6.035.
Support/Resistance
$6.456 – Intraday resistance
$6.319– Intraday support
$6.164 – Objective target 1
$6.035 – 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 H4 time – frame, I found that BTC is still trading inside of the trading range between the price of $6.456 (resistance) and the price of $6.319 (support). I also found that buying cliamx in the background, which is a sign that buying looks risky. My advice is to watch for a potential breakout of the support to confirm further downward continuation. The downward targets are set at the price of $6.164 and at the price of $6.035.
Support/Resistance
$6.456 – Intraday resistance
$6.319– Intraday support
$6.164 – Objective target 1
$6.035 – 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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