Expect a momentum towards 9054.00 | 20 April 2018

Wave Analysis

During the previous trading day, Bitcoin made very little movements to the upper side, rather, it crashed but ended up closing slightly around where the price opened yesterday. We still expect bitcoin to gain value especially while the price is above the level 7104.11. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should break above the 9054.00 towards the daily resistance level 11000.00. This view can only be invalidated in case the price breaks below 7304.11, if this is the case, then we'll expect a rally to the lower side.

Trade Recommendation:

Expect a momentum towards 9054.00