Flat for now. | 11 May 2018

Wave Analysis

Bitcoin continues to systematically edge to the lower side but is still above the 4 hour support level 8605.06, few days ago, we expect a possible rise towards 10077.03 and even a break to the upperside, however, this move is being capped around 10077.03, as long as this level is not clearly broken to the upperside, we expect further momentum towards 8605.06 where we'll be looking to rebuy both the impulsive waves (v) and (c) to the upper side with the first target at 10077.03 and the next target at 11664.46.

Trade Recommendations:

Flat for now.

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.