Remain short | 03 April 2018

Wave Analysis

Perfectly as previously forecasted, Bitcoin is still rallying within the contracting wedge formation. As long as the price remains within the two trend lines acting as the top and bottom to the contracting wedge, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of both the inner impulsive wave (iii) and the outer larger wave (v) but should not go beyond 4512.4 . According to the current chart set up and structure, this crypto is pretty much bearish and only short positions can safely be recommended. If you’re not already in a short position, you could wait for a slight pullback towards 7304.11 the sell this crypto towards $4512.4.

Trade Recommendations:

Remain short with an ultimate target at 4512.45