Bitcoin remains constructive for bulls as it might have resumed Wave (3) higher towards 13800 since 3850 lows. After terminating a higher degree Wave ((4)) at 3100 levels in December 2018, Bitcoin has managed to carve Waves (1) and (2) as labelled on the daily chart presented here. If the crypto holds above 3100 going forward, bulls shall remain in control and push prices higher towards 10500 and 13800 respectively. Alternately, a push below 3100 might change the structure in the short-medium term. High probable wave count is that Bitcoin is progressing in Wave (3) within Wave ((5)) targeting above 13800 in the long run.
Strategy:
Long against 3850, targeting 10500, 13800 in the long run.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 3850, targeting 10500, 13800 in the long run.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.