Buy Bitcoin above 10073.03 | 07 May 2018

Wave Analysis

Bitcoin is currently trading above a key 4 hour support level 8605.06, as long as the price sustains this break, we expect further momentum to the upper side, first, we're waiting for a break above 10073.03 to confirm a possible rally further to the upper side. The anticipated bullish price rally is the continuation of both the impulsive waves (v) and (c) to the upper side, and should first break above 10073.03 towards 11654.43 or even higher. This view can only be invalidated in case the price breaks below 8605.06, this being the case, we'll expect a momentum towards 7304.33.

Trade Recommendations:

If you're not long already, you could wait and buy above 10073.03 and have your target at 11634.2

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.