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11.01.201911:13 Forex Analysis & Reviews: BITCOIN Analysis for January 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 impulsive and non-volatile with the recent bearish momentum after breaking below $4,000 area with a daily close. The price is currently correcting itself near $3,500-600 support area from where certain pullbacks towards the dynamic level have been observed. The price is expected to push lower towards $3,000 support area in the future. The Kumo Cloud resistance is increasing its width currently which might lead to further impressive bearish pressure in the future. After breaking below 200 EMA, the price action indicates the shift of sentiment in the market, thus generating the bearish pressure. As the price remains below $4,000 area with a daily close, the bearish pressure is expected to continue.

SUPPORT: ,3000, 3,500, 3,600

RESISTANCE: 4,000, 4,250, 4,500

BIAS: BEARISH

MOMENTUM: NON-VOLATILE

Exchange Rates 11.01.2019 analysis

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