On the sidelines | 29 June 2018

Wave Analysis

During the previous trading day, Bitcoin continued to lose value and is now trading below 5911.46. The move below 5911.46 could be a sign of a long term breakout, however, instead of picking a short position now, we choose to remain flat and wait for a clear breakout confirmation to pick a long term short position, a confirmation should be an extension to the lower side, then a correction to the just broken level. If this should be the case, then we'll pick a long term short position and have our target at 3512.21.

Trade Recommendations:

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.