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