Short BTC with your first take profit at $8,736.70 | 09 May 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum. After a failed attempt to break above the daiy resistance line $9,471.50, BTC has been on a loosing mode. I expect BTC to plummet further and should break below the daily support line $8,736.70 towards $6,949.12 . On its way to the lowerside, the key lines to look for include $8,736.70, $8,185.90 and the next at $7,651.30. If these lines are breached then I'll be eyeing a break below $6,943.17 to confirm a possible bearish rally towards $1,000.00.

Trade Signal;

Short BTC with your first take profit at $8,736.70 and the next at $6,949.17.

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.