For now, not good for buyers | 24 May 2018

Technical Observation

BTC is currently trading with an increasing bearish momentum. Yesterday, my stop was take out when the price went below $7,875.68. This is a bearish dominance sign and while the price is below this, I anticipated a plunge towards the weekly support line $6,590.82 but should not break lower. If you went long earlier and is still holding on to this trade, its good to opt out of this trade, otherwise, you may have to hold onto a loosing streak. If you're flat, then wait for the price to bounce from $6,590.82 to buy BTC towards $9,445.64.

Trade Signal.

Buy BTC on a bounce from $6,590.82

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.