BTC did a fake breakout of support at the price of $3.680, which is a clear-cut sign of a trend reversal.
We found a strong rejection of the support at $3.680 in combination with the bullish divergence on the Stochastic oscillator, which is an obvious sign of a trend reversal. Support is seen at the price of $3.634 and resistance is at $3.900.
Trading recommendation: We are bullish about BTC from 3.810 with targets at $3.900 and $4.060. Protective stop is placed at $3.630.
The material has been provided by InstaForex Company - www.instaforex.com