We're short towards 5911.46.

Wave Analysis

During the previous trading day, Bitcoin traded intensely to the lower side and even broke out below the lower supportive trend line and is still pretty much below this trend line. As long as this trend line now protects the upper side, we expect a possible rally further to the lower side but should not go beyond the 4 hour support level 5911.46. If this target is violated to the lower side, then the price will likely to continue to the lower side with our next target being at 5000.00. At the moment, only sell positions looks much better and can be recommended.

Trade Recommendations:

We’re short towards 5911.46.

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