Technical crypto analysis based on breakout – Wait for a buy Signal.


Wait for a buy Signal.

Technical Observation

BTC lost significantly to the US Dollar but is now bouncing from the 4 hour support line $6,846.70. While the price is contained above this line, I expect a bounce from this line to culminate in to a possible rally to the upperside with an ideal take profit at $8,266.80. On its way upwards, the key lines to check for include $7,387.08, $7,823.80 and $8,266.80. If these lines are broken, then further momentum to the upper side is expected. On the other side, should the price get below $6,846.70, then I’ll wait for another break below the support trend line to pick a short position.

Trade Signal.

Wait for a buy Signal.

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