Bullish but staying on the sidelines looks more ideal | 14 May 2018

Wave Analysis

After an unprecedented loss in value last week, Bitcoin gained some value over the weekend and is currently rallying above 6609.06, which is a key 4 hour level. If this price can sustain the current rise above 6609.06, then this will be a good place to look for long term long position with our first target at 10071.83 and the next target at 11654.47. This is from the bullish point of view, if the price can get below 6606.06, then this will be a good place to look for short positions with an ideal target at 7309.13.

Trade Recommendations:

Buy bitcoin above 6609.05 towards 10073.03