Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Bitcoin analysis for September 21, 2018

September 21, 2018 Analytics

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Recently, Bitcoin has been trading upwards. The price tested the level of $6.707. According to the H1 time – frame, I found the strong upward momentum and the breakout of key resistance at the price of $6.500. I also found that rising trendline in the background and my advice is to watch for potential pullback to buy. The upward targets are set at the price of $6.855 (Fibonacci expansion 161.8%) and at the price of $7.000. The area from $6.855 and $7.000 is also a strong distribution zone.

Blue line – expected price path

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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