Bitcoin analysis for May 18, 2018

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Trading recommendations:

According to the H1 time – frame, I found that price is testing supply trendline in the backgorund, which is a sign that buying looks risky. I also found a successful breakout of consilidation zone in the background, which is another sign that sellers are in control. My advice is to watch for potential selling opportunities. The downawrd targets are set at the price of $7.890 and at the price of $7.683.

Support/Resistance

$8.140 – Intraday resistance

$7.890– Intraday support

$7.890 – Objective target 1

$7.683 – Objective target 2

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

Source:: Bitcoin analysis for May 18, 2018

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