Technical crypto analysis based on breakout – Expect more volatility


Expect more volatility

Technical Observation

Earlier this week, BTC established a fresh weekly high ($11640.5) but two days later, it has shaded almost 8% the value it gained. I’m still a bit reluctant to long this Crypto especially while its below $11640.50, but a breach above it, will imply waiting for a rise above $11904.0 to confirm a bullish movement towards $14195.96. As it is on the 4 hour chart, its ideal and safer to stick to short orders with potential buyers being this year’s lowest low set at $6259.3. If this support is breached, then a decline towards $1000.00 is expected. Key lines to look for include $11940.40 and $6259.3.

Trade Signal

Book profits at $6259.3

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