Sell Bitcoin now towards 4290.03.

Wave Analysis:

After again breaking below the supportive trend line, Bitcoin is still pretty much below this level. Currently, a good long term sell is forming on the 4 hour chart. On the current chart, as long as the price remains below this level, we expect a possible momentum to the lower side. The anticipated bearish price rally will be the unfolding of an impulsive wave count and should break below 5911.46 but should not go beyond 4000.00. If this target is broken, then the price will extend further to the lower side with an ultimate target at 2354.23.

Trade Recommendation.

Sell Bitcoin now towards 4290.03.

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