Bitcoin on a crash mode | 08 March 2018

Wave Analysis:

The Impulsive wave (v) extended significantly to the lower side and is still pretty much bearish both on the daily and the weekly charts. Today and in the next few days, we expect a possible extension of the impulsive wave (v) to the lower side and may break below 4660.02 towards 1000.00. As long as we're below 13000.64, chances that bitcoin will continue to crash are very high, and therefore only short positions can be recommended. However, in case the price breakout above 13000.64, then we'll be looking for a buy position towards 17692.45.

Trade Recommendations:

Remain short with an ultimate target at 4666.02.

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.