Bitcoin could still loose value | 31 August 2018

Wave Analysis

During the previous trading day, Bitcoin lost value considerably but is still above this week's opening price. Despite this drop, we still expect a possible momentum towards the upper trendline. We're basically waiting for a rebound from the upper trendline to look for a short position with an ultimate target at 5228.95. However, should the price breakout above the upper trendline, then we'll be looking for a long position towards 12930.25. In case of a rise above this trendline, we'll wait for a minor pullback to the same trendline to look for a long position.

Trade Recommendations:

Only buy a break above 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.