BitcoinLong
Bitcoin draws positive formation
Target: 5000
Risk: 3565
Technical reasons:
Bitcoin price showed some decline but it’s still getting positive support by the exponential moving averages 50 and 100, noticing that there is an under-construction positive pattern.
Surpass 4150.00 will provide strong positive motive to achieve gains in the coming period and visit 5000.00 as a next target, while breaking 3565.00 will stop the expected rise and press the price to suffer losses on the short term basis.
Risk: 3565
Technical reasons:
Bitcoin price showed some decline but it’s still getting positive support by the exponential moving averages 50 and 100, noticing that there is an under-construction positive pattern.
Surpass 4150.00 will provide strong positive motive to achieve gains in the coming period and visit 5000.00 as a next target, while breaking 3565.00 will stop the expected rise and press the price to suffer losses on the short term basis.
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