We're on the sidelines | 01 June 2018

Wave Analysis

For the second time now in a span of less than two day, bitcoin is rallying above the immediate trendline, but still below the horizontal resistance level 7715.34. As long as the price is still below this trendline and this resistance, we expect a possible momentum to the lowerside, however, should the price break above both, then this will be a good place to look for a long position with out target at 8400.37. At the moment, we choose to remain on the sidelines despite the previous day's advice to sell.

Trade Recommendations:

We're on the sidelines

101% Double the volume

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.