On the sidelines | 10 May 2018

Wave Analysis

After an attempt to break below 735.77, this crypto went back above this level and is currently pointed to the upper side. As long as the price remains above 736.32, we expect a possible rally to the upper side and should first break above the 4 hour resistance level 891.64 towards 1000.00 or even higher. This view can only be invalidated in case the price breaks below 735.27, this being the case, we'll expect a drastic decline towards 583.80 and should break below towards 460.64. On the 4 hour chart attached, its good to remain on the sidelines.

Trade Recommendations:

On the sidelines