empty
 
 
19.02.2018 12:47 PM
Bitcoin analysis for February 19, 2018

This image is no longer relevant

The Bitcoin (BTC) has been trading upwards. The price tested the level of $11.010. 2018 might be a breakout year for cryptocurrency wallets. The Bitcoin.com wallet is set to reach 2,000,000 downloads soon and has integrated Shapeshift into its platform. More recently, San Diego-based Edge released its wallet from a three month long beta, going fully live 15 February, providing what it claims is "a private, secure, open-source, and easy to use multi-asset wallet." Technical picture looks bullish to neutral.

Trading recommendations:

According to the 30M time - frame, I found shooting star candle (bearish) at the pivot resistance 3, which is a sign that buying looks risky. I also found an overbought stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $10.730 and at the price of $10.325.

Support/Resistance

$10.918 – Intraday resistance

$10.730– Intraday support

$10.730 – Objective target 1

$10.325 – Objective target 2

With InstaForex, you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback