17.06.201915:27 Forex Analysis & Reviews: Bitcoin analysis for June, 17.2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

BTC has been trading upwards as we expected. The price tested the level of $9.350. The trend is still upside but downward correction might be in play. Watch for potential breakout of upward trend line at $9.207 to confirm further downside.

Red rectangle – Support 1 ($9.022)

Pink rectangle- Support 2 ($8.832)

Blue rectangle – Resistance ($9.356)

The momentum is still on the upside but we found that there is potential for the downward correction if you see breakout of the upward trendline. The down break of the upward trendline ($9.207) would confirm test of $9.022 or $8.832. Anyway, in case of the upward break of resistance at $9.356, you should watch for buying opportunities and potential test of $9.780.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade