For Traders

Analytical Reviews

Crypto-currencies

02.01.201918:23 Forex Analysis & Reviews: BITCOIN Analysis for January 2, 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 with the bullish pressure recently which lead the price above 200 EMA recently. The price also breached above the dynamic levels of 20 EMA, Tenkan, Kijun, and Kumo Cloud as well which indicates further bullish momentum in the coming days. Bitcoin is still struggling to break above $4,000 area whereas a break with a daily close is expected to lead the price much higher towards $5,000 or higher in the coming days. As the price remains above $3,000 area with a daily close, the bullish bias is expected to continue.

SUPPORT: 3,000, 3,500, 3,600

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

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