Bitcoin analysis for June 06, 2018

analytics5b17ae08918c7.png

Trading recommendations:

According to the H1 time - frame, I found a broken supply trendline in the background. This means that buyers are in control. I also found an intraday bullish flag in creation, which is another sign of strength. My advice is to watch for a potential breakout of the bullish flag to confirm a further upward movement. The upward target is set at the price of $7.755.

Support/Resistance

$7.647 – Intraday resistance

$7.533– Intraday support

$7.755 – 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