Waiting to Resell Bitcoin | 30 August 2018

Wave Analysis

SO far, no significant move has been seen on this crypto. Yesterday along, Bitcoin moved just very few pips below its opening price. While the price is within the contracting wedge formation, we expect a possible momentum to the lowerside in the long run. The anticipated bearish price rally should be the continuation of the impulsive wave (E) to the lowerside with an ultimate target at 5228. This view will only be reconsidered should the price break above the upper trendline, if this is the case, then further movements upwards is expected.

Trade Recommemdation

Resell Bitcoin upon a rebound from the upper trendline

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