FXHighway

Bitcoin heads for bearish correction

Short
BITSTAMP:BTCUSD   Bitcoin
Target: 4657
Risk: 4965

Technical reasons:

Bitcoin price started bearish correction that was confirmed after the completion of the rising wedge pattern, and breaking 4965.00 will confirm extending the decline to 4657.75 as a next target.

The continuation of the expected decline requires consolidating below 5130.00.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.