Daily chart:
readings remain very high, that may tell about readiness of to break the resistance $5318 (upper ), that, in its turn, will drive to new phase of market distribution to the upside for $150-200.
H4-chart:
If we evaluate prospects of on local time-frames, it can be well seen, that bulls got problems. In particular, oscillator has distinct triple convergence, that tells about steep weakening of upward potential.
Thus resistance at the 5318-5320 area is a key level to define further sentiment of the coin holders.
H1-chart:
On hourly chart a divergence of can be noticed as well. Thus despite optimism about the last surge of quotes, we expect downward reversal form the 5320. First sales targets can be $5190 and $5088 (middle and lower ).
Expectations:
We expect testing of the 5320 level and steep downward reversal in direction of the marks 5190 and 5088.
Trading recommendations:
Shorts from the 5320 level towards 5190 and 5088.
Published at Mon, 08 Apr 2019 11:34:24 +0000
