Rebuy bitcoin around 8400.37 | 21 May 2018

Wave Analysis

Instead of continuing short upon breaking below 8400.37-8304.35, Bitcoin traded relentlessly to the upper side and even broke above this zone. This is a clear sign that the buyers are gaining an upper hand in this marker, thus, as long as the price remains above 8400.37, we expect a possible rally to the upper side with an ultimate target at 9886.70. If you were stopped on the previous sell position, you could wait for a pullback towards 8400.37 to pick a low risk buy position with an ultimate target at 9886.70. At the moment, we only recommend looking for long positions.

Trade Recommendations:

Rebuy bitcoin around 8400.37 with your take profit at 9886.70.

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.