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Analysis 4.10.2017 Trade Recommendation: Bitcoin

The market is at a support zone formed by the uptrend line, SMA50, 4200.00 and 4000.00 support levels. This zone can be a starting point for a new upward movement. We can trade based on a breakout signal. If the price breaks the signal line and moves above 4400.00 resistance level, it will be confirmation of upward movement. Pending orders for buy can be placed at 4410.00 level with stop orders at 4180.00 level. Profit targets are 4600.00 and 4900.00 resistance levels. Also we can note that MACD histogram supports upward movement and DMI allows to open long trades. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Market: BTCUSD
Buy: 4410.00
Stop: 4180.00
Profit Targets: 4600.00 and 4900.00
The trading signal is based on Poloniex chart.

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