The price bounced from 2950.00 level and then dropped to SMA with period 100. We can see an attempt to move lower. MACD confirms downward movement. DMI shows trend market conditions and confirms downward movement too. We must be ready to see short term falling to the support zone between 2600.00 and 2500.00 levels. Pending orders for sell should be placed below the local swing low. Stop orders must be above 2910.00 level. Profit target should be near the support zone. If the price, without reaching 2780.00 level, bounces from SMA100 and indicators confirm upward movement, we’ll have to delete pending orders for sell. Recommended trading volume for this trade is up to 3% from your deposit.
Profit Targets: 2610.00
Update: If this trade recommendation isn’t activated, our previous recommendation to buy Bitcoin is still in play.
The trading signal is based on Kraken chart.