FX.co ★ Bitcoin analysis for May 13, 2019

BTC has been trading strongly higher and we got test of $7.411. The momentum is strong and we expect more upside continuation.

According to the H4 time – frame, we found there is a very strong bullish momentum on the BTC and extended run is present. IT is very risky to watch for selling opportunities at this stage. ADX is ready is very strong and rising, which is indication of the strong bullish momentum. These are references:

Upward:

Swing high – $7.411

Upward projection - $7.900

Downward:

Swing low - $6.822

Watch for buying opportunities due to strong upward momentum. Upward target is set at the price of $7.906.