BTC went fast lower and tested the level of $3.862 yesterday and today we got upward correction.
According to the H1 time – frame, the analysis from yesterday is still valid and we still expect downside. The is the down break of the upward trendline in the background, which is sign that aggressive sellers did enter the market. Key support levels are seen at the price of $3.864, $3.766 and $3.633. Key resistance is still set at the price of $4.170.
Trading recommendation: We are short on BTC with the major take profit at $3.633 and protective stop at $4.060.
The material has been provided by InstaForex Company - www.instaforex.com