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27.02.202003:08 Forex Analysis & Reviews: The Bitcoin is on the way to $8,435.37

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Exchange Rates 27.02.2020 analysis

At the 4-hour Chart, Bitcoin is trading under selling pressure. Now this cryptocurrency seems to be willing to attack the $8,435.37 level as long the price does not rebound to the level higher than $9,247.15. The $8,435.37 level is still imminent to be reached. The overall bias for bitcoin is bearish.

Disclaimer: Trading Forex on margin carries a high level of risk, and may not be suitable for all traders or investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Arief Makmur
Analytical expert of InstaForex
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