BTC retracing | 27 July 2018

Technical Observation

BTC is currently trading with a slightly bearish bias Momentum. After breaking above the upper trendline, acting as a resistance to the triangular formation, BTC is now retracing to the same line. I', waiting for a bounce from this trend line to pick a low risk buy order with my ideal take profit at $12,911.30. If you went long already, you should leave this position. As it is on the daily chart, I only advocate looking for long positions. But should the price break below $6,282.44, then I will consider a short position.

Trade Signal.

Rebuy BTC upon a bounce from the immediate trendline

101% Double the volume

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.