We're short | 05 April 2018

Wave Analysis:

During the previous trading day, Bitcoin pulled back upwards but is still within the falling contracting wedge formation. We expect this pullback to be a mere corrective rally and as long as the price remains within this wedge, we expect a possible bearish price rally and should break below 5618.80 towards 5000.23. The anticipated bearish price rally is the continuation of both the impulsive waves (v) and (iii) to the lower side and may end up below the 5000.00 handle. Thie view can only be invalidated in case the price breaks above 7304.64.

Trade Recommendations:

We're short with an ultimate target at 5000.00