We're long | 05 July 2018

Wave Analysis

Bitcoin is still within the triangular formation. Just in the recent past, Bitcoin bounced off from the lower supportive horizontal level 5911.46 and is still pretty much above this level. As long as this level is not broken to the lower side, we expect the rejection from the lower side to be an onset to an impulsive five wave cycle and should breakout above the upper trend line, but should not go above 12,733.83. This view can only be invalidated in case the price breaks below 5911.46. If this is the case, we'll expect a momentum towards 5000.00.

Trade Recommendations:

We're long towards 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.