Remain short | 06 April 2018

Wave Analysis:

Bitcoin has not made any clear moves since the previous trading day, instead, it continues to consolidate within a tight range not going above 6893.40 or below 6297.10, we're waiting for a clear break below 6297.10 to confirm a possible bearish price rally towards 6002.40 or even lower. If you're not short already, you could wait for a rebound from 6892.40 to pick a short position, alternatively, you could wait for a break below 6297.10 then pick a short position. The anticipated bearish price rally is the continuation of both the impulsive waves (v) and (iii) to the lower side and may break below 5708.70 to the lower side.

Trade Remmendations:

Remain short with an ideal target at 5708.70

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.