In the recent past, BTC established a short term resistance zone $11984.48-$11440.81, and is still below it. Last week, BTC pulled back significantly to the upper side but still below $11984.48, I expect a loss of bullish momentum around the just mentioned zone, to short this virtual currency with my take profit still set at $6106.04. Should the price break above this zone, then I suggest waiting for a pullback to the just broken zone to long BTC towards $16350.90 or even higher to last year's highest high $19241.70. On the way upwards, the key lines to look for include $11984.46, $14160.90, $16350.90 and $19241.70.
Trade Signal:
Sell BTC around $11984.46 towards $6106.06
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.
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Imelda Maseno
Analyst of «FreshForex» company
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