Bitcoin bulls remain under control as the crypto carves yet another higher low around 6472 levels yesterday. The larger degree counts are clearly suggesting a rally beyond 13800, until prices hold above 3850 lows. Also note that Bitcoin might be progressing into Wave ((5)) rally since 3100 lows in December 2018. Furthermore, a lower degree Wave (3) seems to be in progress since 3850 levels. Overall, bulls are expected to remain in control as long as Bitcoin trades above 3850.
Strategy:
Long against 3850, targeting 10500 in the short term.
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 in the short term.
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.