Flat | 17 April 2018

Technical Observation

As unlikely as it may seem, BTC went below the lower 152 Simple Moving Average and is still rallying below it. While the price is below it, I expect a decline in value towards $7,808.20. As it is on the 1 hour chart, its good to remain flat but if I have to trade, then I may consider a low risk sell position with my first take profit at $7,808.20 and the next at $6, 689.80. On its way to the lower side, the key lines to look for include $7, 808.20, $7,328.20, $6,848.20 and $6,689.80. If these lines are breached then bitcoin could crash further to $5k.

Trade Signal.

Flat

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.