Remain long | 05 June 2018

Wave Analysis

Since February this year, Bitcoin has been rallying within a contracting wedge formation but is currently at the verge of breaking out of it. Following the end of the immediate corrective wave (B) along the lower supportive trend line, Bitcoin a attempted a move upwards, but is currently pulling back, we expect this downward rally to be a mere correction of the impulsive wave (c) and should not go beyond this supportive trend line, where we'll be looking to rebuy the last impulsive wave (c) with our target along the upper trend line.

Trade Recommendations:

Remain long with your target along the upper trendline.

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.