BTC/USD

This week BTC has demonstrated a moderate downward trend. Trading was held amid normal market volatility. No public messages from regulators or other parties that can significantly affect the price of BTC were sent.

As of the time this review was created the BTC price was USD31 841.

As we see it, the market is in the initial phase of the fourth corrective wave and it may grow up to USD32 700 with a further decline down to USD30 500 by the end of the next week.

When trading we recommend you to open short positions basing on short-term upward trends. It would be reasonable to set you stop-loss at a higher level compared to the recent maximums, namely at USD33 000 – 33 500.