we're short | 21 August 2018

Wave Analysis

Bitcoin is still rallying with the contracting triangular formation and is not showing signs of breaking out of it. Last week, we expect the last impulsive wave (E) to touch the lower supportive trendline but this didn't happen, we're still expecting this impulsive wave to touch this level and may breakout below it. If this is the case, then we'll expect a possible rally to the lowerside. The anticipated bearish price rally will be the continuation of the impulsive wave (E) to the lowerside and should break below 4541.55.

Trade Recommendations:

we're short

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.