FX.co ★ Bitcoin analysis for September 06, 2018

Trading recommendations:

According to the H4 time - frame, I found that Bitcoin rejected from the very strong resistance zone in the background at the price of $7.445, which is a big sign of weakness. I also found the fast cross on the Stochastic and MACD oscillator, which is a sign that sellers are agressive. The short-term trend is downawrd and my advice is to watch for selling opportunities. The first downward target is set at the price of $5.860.

Support/Resistance

$7.370 – Agreement zone (strong resistance)

$5.860 – Objective target 1

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.