Short BTC towards $8,192.30 | 11 May 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum bias. The last day's candle was a perfect bearish pin bar candle and indicates the potential of price continuing to the lower side. I'm waiting for a retracement towards the previous day's opening price to short this crypto, with my first take profit at $8,192.30 and the next take profit at $6,945.17. If these take profits are taken out, then BTC could decline in value massively with the next take profit at $1,000.00. As it is, buy position can be encouraged above $9,171.80 or above $11,352.34.

Trade Signal.

Short BTC towards $8,192.30 and the next take profit at $6,95.52.

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.