According to the H1 time frame, I found a potential end of the upward correction (running flat ABC), which is a sign that buying looks risky. I also found a strong downward trend in the background and my advice is to watch for selling opportunities. The breakout of intraday support line will confirm further downward continuation. The downward target is set at the price of $5,838.
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 potential end of the upward correction (running flat ABC), which is a sign that buying looks risky. I also found a strong downward trend in the background and my advice is to watch for selling opportunities. The breakout of intraday support line will confirm further downward continuation. The downward target is set at the price of $5,838.
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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