BTC has been trading upward but on the very slow paste, which is potential warning for the future upside.
According to the H4 time – frame, we found that that there is potential for a change in the trend direction from bullish to bearish. The resistance at the price of $4.020 is holding that we expect potential downward movement. We might see potential fifth wolf's wave to complete the bearish pattern and that would signal downside. The projection for the potential drop is set at $3.633 and $3.500.
Trading recommendation: We are watching a potential breakout of the upward trendline to confirm further downside. The targets are set at the price of $3.633 and $3.500.
The material has been provided by InstaForex Company - www.instaforex.com
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