Cryptocurrencies

Bitcoin Technical Analysis: BREAKOUT IN PRICE AND VOLUME

Bitcoin has broken above the $3,600 resistance, and is now testing $3,800. This breakout was backed by a very bullish increase in volume.

Screen Shot 2019-02-18 at 9.30.16 AM.png
Screen Shot 2019-02-18 at 9.31.51 AM.png

Looking at the daily MACD, we’re seeing some slight bearish divergence. This suggests we could see a pull back. Should that happen, I’d watch for support around $3,700-$3,650.

Screen Shot 2019-02-18 at 9.42.56 AM.png

The daily chart also shows price breaking above the 50 day MA. If the daily candle closes above the 50 day MA, it’ll be a good indication this latest breakout has legs…at least temporarily.

Screen Shot 2019-02-18 at 9.31.22 AM.png

Today’s video analysis is a little more in-depth. I discuss market psychology, where price may go next, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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