We're short | 03 August 2018

Wave Analysis

After bouncing from the upper resistance trendline, Bitcoin rallied intensely to the lowerside and is still pretty much bearish both on the daily and the weekly charts. After this failed attempt to break above the upper trendline, as long as the price remains below this trendline, I expect a possible momentum to the lowerside with an ultimate target at 6911.46. If this level is broken, then we'll expect a further momentum to the bears site with an ultimate target at 3512.00. Another breakout above the upper trendline could trigger a move to the upperside.

Trade Recommendations:

We're short

101% Double the volume