According to the H1 time – frame, I found that price rejected from the supply trendline in the background, which is a sign that buying looks risky around the level of $6.450. I also found an intraday support trendline and my advice is to watch for a breakout fo confirm a further downward movement. The downawrd target is set at the price of $6.084.
Support/Resistance
Major resistance – $6.450
Major support – $6.084.
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 rejected from the supply trendline in the background, which is a sign that buying looks risky around the level of $6.450. I also found an intraday support trendline and my advice is to watch for a breakout fo confirm a further downward movement. The downawrd target is set at the price of $6.084.
Support/Resistance
Major resistance – $6.450
Major support – $6.084.
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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