29.03.201909:10 Forex Analysis & Reviews: Bitcoin Elliott Wave analysis for 29/03/2019

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.

Technical market overview:

The BTC/USD pair has again attempted to move up and break through the technical resistance zone located between the levels o f$4,076 - $4, 104, but so far failed to do so. Nevertheless, the bulls are still trying despite the last candle signal that looks like a Shooting Star. If they manage to break out higher, then the next immediate target is sth top for the wave (x) at the level of $4,122.

Weekly Pivot Points:

WR3 - $4,204

WR2 - $4,154

WR1 - $4,072

Weekly Pivot - $4,017

WS1 - $3,925

WS2 - $3,867

WS3 - $3,781

Trading recommendations:

There is another good trading setup for bears: opening sell orders in the area of $4,077 - $4,104 with a protective stop loss just above the level of $4,122. The take profit level will remain open for now, but the first one would be seen at the level of $3,967.

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