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18.01.201911:01 Forex Analysis & Reviews: BITCOIN Analysis for January 18, 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 managed to climb higher above the dynamic level resistance of Kumo Cloud, Tenkan, Kijun, and 20 EMA resistance recently. The price is currently heading towards the 200 EMA resistance at $3,700 area. If is broken above, further bullish pressure towards $4,000 is expected in the coming days. Bitcoin is still quite volatile, trading inside the corrective range. Amid Chikou span clearing the price line resistance as well as breaking above Kumo resistance area, the dynamic levels are now acting as active support. Such movement is expected to lead to further bullish momentum in the future. As the price remains above $3,500-600 support area while being supported by the dynamic levels, bullish pressure is expected to persist in the coming days.

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

RESISTANCE: 3,700, 4,000, 4,250

BIAS: BULLISH

MOMENTUM: VOLATILE

Exchange Rates 18.01.2019 analysis

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