we're short below 7304.13 | 25 May 2018

Wave Analysis

During the previous trading day, bitcoin continued to plummet and is still showing signs of rallying even lower. Yesterday, Bitcoin mere;y tested the hourly support level 7304.13 but failed to violate it. For almost three weeks now, this crypto has been in a relentless downtrend and chances of price dropping even further are very high. Thus, as long as the price remains below the upper trend line, we're waiting for a clear break below 7304.13 to confirm a possible bearish rally towards 6766.00 or even lower. The anticipated bearish price rally will be the continuation of the impulsive wave (c) to the lower side and may break below 6766.00.

Trade Recommendation.

Sell Bitcoin below 7304.13 towards 6766.00

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.