Wait for pullback towards $8,735.70 | 08 May 2018

Technical Observation

Instead of rallying upwards as I previously forecasted, BTC pullback slightly to the lower side but is still above the daily support line $8,736.70. Unless there's a clear break above $9,471.10, I expect a bearish rally towards the daily support $8,736.70 where I'll be looking to buy BTC with my first target at $11,352.30. If you're not long yet, you may wait for a break above $9,471.10 to pick a long position. On its way to the upper side, the key lines to check for include $10,340.50, $11,352.30 and $13,364.00.

Trade Signal.

Wait for pullback towards $8,735.70 towards $9,471.10

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.