we're short | 24 August 2018

Wave Analysis

Despite the bearish pin bar seen few days ago, Bitcoin is yet to take shape to the lower-side, instead, it pulled back upwards slightly but is still below the Pin bar's highest high. This Crypto is still bearish and while the price is within the falling wedge formation, I expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) and should break below the supportive trendline towards 5000.00 and may extend even lower. You could look for a short position now, or remain flat.

Trade Recommendation:

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.