Trading recommendations:
According to the 30M time - frame, I found that BTC has been trading downwards. The price tested the level of $3.439. I have also found the breakout of the bearish flag in the background, which is a sign that sellers are in control. Most recently, there is the intraday bearish flag in creation, which is another sign of weakness. My advice is to watch for a breakout of the flag to confirm further downward continuation. A downward target is set at the price of $3.327. The short-long term trend is bearish.
Support/Resistance
$3.550 – Intraday resistance
$3.445– Intraday support
$3.327 – Objective target
With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company - www.instaforex.com