remain bearish | 06 March 2018

Technical Observation:

Bitcoin is slowly drifting from the upper trend line despite the previous forecast that it was to drop in value. The anticipated bearish price rally remains valid unless the price breaks above the 13000.64 handles. Otherwise, as long as we're below 13000.64, we expect to continue short with the impulsive wave (v) to the lower side and may break below 965.54 towards 120.30 or even lower. On the other side, should the price breaks above 13000.64, then we expect a possible bullish price rally and may break above 17777.90 towards 20127.50 or even higher.

Trade Recommendations:

We choose to remain bearish on this pair.

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.