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.