Conservative traders can either rebuy Bitcoin around 8605.06 | 10 May 2018

Wave Analysis

During the previous trading day, Bitcoin moved slightly to the lower side, but is currently pulling back upwards. For some days now, this crypto has not given us a clear trade other than the buy position triggered around 8605.06. We expect both the impulsive waves (v) and (c) to extend upwards and should clearly break above the 4 hour resistance levels 10073.03 before continuing upwards with an ultimate target at 11654.05. This view will only be invalidated in case the price breaks below 8605.06, this being the case, we'll expect a decline towards 7304.13.

Trade Recommendations:

Conservative traders can either rebuy Bitcoin around 8605.06, or above 10073.03 towards 11654.45