Short BTC towards $1,000.00 | 06 April 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum. Recently, the larger Simple moving average 152 went above the other SMAs for the second time this week. This is a bearish dominance signal and while the price is below the the three SMAs, and below $6,941.15, I expect a bearish momentum with my take profit being $1,000.00. So far this year alone, only bears have dominated this market, I expect more sellers to come into this market. On the way downwards, the key lines to look for include $5,124.21, $3,452.21 and $2,234.11. A breach below this lines will push the price lower.

Trade Signal.

Short BTC 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.