For Traders

Analytical Reviews

Crypto-currencies

21.03.201916:32 Forex Analysis & Reviews: Bitcoin analysis for March 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 upward but on the very slow paste, which is potential warning for the future upside.

According to the H4 time – frame, we found that that there is potential for a change in the trend direction from bullish to bearish. The resistance at the price of $4.020 is holding that we expect potential downward movement. We might see potential fifth wolf's wave to complete the bearish pattern and that would signal downside. The projection for the potential drop is set at $3.633 and $3.500.

Trading recommendation: We are watching a potential breakout of the upward trendline to confirm further downside. The targets are set at the price of $3.633 and $3.500.

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