Short BTC towards $5,002.00. | 02 April 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum. Since the previous week's analysis, this virtual currency has been in a constant downtrend and has remained below the two simple moving averages (52, 152). While the price is resisted by these two SMAs, I expect a surge to the lowerside and may break below $5,000.00 towards $1000.00. So as far as I'm concerned, BTC will continue to loose value especially while it remains below the $10,000.00 mark. The price may plummet up to below $1,000.00, but should not go lower.

Trade Signal.

Short BTC towards $5,002.00.

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.