Technical crypto analysis based on breakout – Wait for a buy position


Wait for a buy position

Technical Observation: After a drastic decline in value, BTC is now showing signs of bouncing from the hourly support level 6031.85. This is a key level and as long as the price remains above this level, we expect a possible rebound from it to pick a long term long position with an ultimate target at $8,311.10. On its way to the lowerside, the key lines to look for include $7,053, $7,680.70 and $8,311.10. And should the price breakout below $6,031.85, then this will be a good place to look for long term short position. Trade Signal. Wait for a buy position

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