We're long temporarily | 19 Februari 2018
19 Februari 2018, BTC
Wave Analysis:
Despite a bullish pin bar candle seen on the weekly chart a fortnight ago, Bitcoin is still confined within a falling channel. Bitcoin is gradually moving higher and is currently approaching the upper trend line acting as the resistance to the falling channel. Bulls would like to see a break above this trend line to pick a long position; such a break will mean a possible growth towards 20082.60. but while this trend line remains intact, bears are waiting to sell the impulsive wave (v)(upon a rebound from the upper trend line) with a target at 4677.97.
Trade Recommendations:
We're long temporarily towards the upper trend line.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
