Bitcoin analysis for July 04, 2018
Trading recommendations:Recently, Bitcoin has been trading downwards. The price tested the level of $6.376. According to the H1 time – frame, I found potential bearish flag in creation, which is sign that buying looks risky. I also found a hidden bearish divergence on the macd oscillator, which is another sign of weakness. My advice is to watch for breakout of the bearish flag to confirm further downward movement. The downward target is set at the price of $6.227.
$6.510 – Intraday resistance;
$6.375 – Intraday support;
$6.227 – Objective target.
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.