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On the sidelines

16 May 2018, BTC

On the sidelines

Wave Analysis

Bitcoin continues to whipsaw above and below 8606.06, after a break above this level, Bitcoin is now below it. This is a key level and as long as the price remains below it, we expect a possible rally to the lower side. So far, we don't advocate holding onto any position on this crypto, rather, conservative traded should wait for either a clear break above 8954 or a clear rebound from 7364.18 to confirm a possible rally to the upper side. If you're already in along position, than its good to pick your profits earlier. Bitcoin could decline steadily towards 7304.13 before a momentum to the upper side seen.

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On the sidelines

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Graham Osano
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