on the sidelines | 23 May 2018

Wave Analysis

Bitcoin continues to crash despite the previous forecast that it could rally upwards. So far, the move to the lower side was highly unexpected, but as while the price is still above the lower supportive trend line, we expect a possible rally to the upper side and may breakout above 8400.37 towards 9000.00 or even higher. If you're a bit skeptic to buy this crypto now, you could wait for a break above 8400.37 to pick a low risk long position with an ultimate target at 9837.00 or even higher to last years highest high 19000.00.

Trade Recommendation:

Remain on the sidelines