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11.01.201916:31 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.

Exchange Rates 11.01.2019 analysis

Trading recommendations:

According to the 30M time - frame, I found strong selling pressure in the background, which is a sign that sellers are in control. Anyway, usually after the stong impulsive movement we may expect the correction. I have found that BTC is created possible bearish flag pattern, which is a sign for potential downward continuation. My advice is to watch for selling opportunities after a breakout of the flag. A downward target is set at the price of $3.333.

Support/Resistance

$3.641 – Intraday resistance

$3.478– Intraday support

$3.333 – Objective target 1

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Petar Jacimovic
Analytical expert of InstaForex
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