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14.01.201913:44 Forex Analysis & Reviews: Bitcoin analysis for January 14, 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 14.01.2019 analysis

Trading recommendations:

According to the 30M time - frame, I found that BTC has been trading downwards. The price tested the level of $3.439. I have also found the breakout of the bearish flag in the background, which is a sign that sellers are in control. Most recently, there is the intraday bearish flag in creation, which is another sign of weakness. My advice is to watch for a breakout of the flag to confirm further downward continuation. A downward target is set at the price of $3.327. The short-long term trend is bearish.

Support/Resistance

$3.550 – Intraday resistance

$3.445– Intraday support

$3.327 – Objective target

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Petar Jacimovic
Analytical expert of InstaForex
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