For Traders

Analytical Reviews

Crypto-currencies

21.02.201912:29 Forex Analysis & Reviews: Bitcoin analysis for February 21, 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.

BTC has been trading upwards and the level of $4.100. Anyway, we found the strong reaction from sellers from the resistance, which is a sign that buying looks risky. We also found the breakout of the intraday support at $3.970, which is another sign of weakness. Supports are seen at the price of $3.805 and at $3.610.

Yellow rectangle – $4.045 (Resistance)

Yellow rectangle - $3.970 (Resistance)

Red rectangle - $3.805 (Support)

Red rectangle - $3.610 (Support)

Trading recommendation: We exited our long position on BTC and we started to sell from $3.962 with stop at $4.100. Targets are set at the price of $3.805 and $3.610.

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