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12.04.201915:57 Forex Analysis & Reviews: Bitcoin analysis for April 12, 2019

Long-term review

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BTC has been trading sideways at the price of $5.047. We are still bearish and the downward movement is expected to happen.

According to the H4 time-frame, our analysis from yesterday is still active and didn't change. We found that our support trendline got finally broken, which is sign that sellers are in control and that buyers got exhausted. Also, we found that fake breakout of the resistance at $5.324 in the background, which adds more weakness on the BTC. Our advice is to watch for selling opportunities with the downward targets at $4.651 and $4.133. Key resistance level is seen at the price of $5.445.

Petar Jacimovic
Analytical expert of InstaForex
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