Short BTC now towards $1,000.00 | 03 April 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum for almost 5 months now, BTC has been in an endless downtrend and is still showing signs of falling even further. I expect a steady surge to the lower side and may head towards $1,000.00. This downward rally is highly to be the case, since no one really knows the correct value of this Crypto. Added to the fact that BTC has remained confined below the three simple moving averages, (14, 52, 152), I expect the price to plummet especially while the price is below the $10,000.00 handle. On its ways to the lower side, the key lines to look for include $6,370.05, $4,145.20, and $3,544.21. It is when these lines are breached, that a surge towards $1,000.00 is expected.

Trade Signal

Short BTC now towards $1,000.00

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.