Bitcoin analysis for December 05, 2018

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Trading recommendations:

According to the H1 time - frame, BTC has been trading downwards. As I expected, the price tested the level of $3.738. Most recently, I have found the rejection from the Ichimoku cloud (resistance), which is a sign that sellers are in control. I also found that BTC is trading below the resistance trendline, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of $3.691 and at the price of $3.490.

Support/Resistance

$3.832 – Intraday resistance

$3.691– Intraday support

$3.691 – Objective target 1

$3.500 – Objective target 2

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