11.03.201906:14 Forex Analysis & Reviews: Analysis of Bitcoin for March 11, 2019

Long-term review

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.

Bitcoin has been quite volatile and corrective below $4,000 area while being carried by the dynamic levels as support. The price regained momentum slowly after a dip below $3,900 area after bouncing off the $3,800 area recently.

The price is currently being held by the dynamic level of 20 EMA, Tenkan, Kijun and Kumo cloud as support which is expected to carry the price higher towards $4,000 area in the coming days. The Chikou span is residing inside the price line which signals certain correction and volatility is still on the way but the bias is still bullish. As of the current price formation, it is expected to push higher towards $4,000 area in the coming days as it remains above $3,800 area with a daily close.

SUPPORT: 3,500, 3,600, 3,800

RESISTANCE: 4,000, 4,250

BIAS: BULLISH

MOMENTUM: VOLATILE

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