Bitcoin must hold above 4100/4000 to maintain the recovery targeting resistance at 4400/4430. In fact we topped exactly here yesterday. Be ready to buy a break higher for 4600/4650. Watch for a high for the day. However a break above 4800 is a short term buy signal targeting 4900 & even 6100 to 5200.
Failure to hold above 4000 however is less positive & risks a slide to 3800, perhaps as far as 3600/3500. We bottomed exactly here on the last test - look for a potential double bottom buy signal. However on further losses in the bear trend look for strong support at 3170/3130. A break below 3000 is the next sell signal.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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