empty
 
 
19.06.2019 05:12 PM
Bitcoin analysis for June, 19.2019

BRC bulls are unable to trade above the resistance at $9.444 and bears reacted. At current market conditions I prefer to be bearish since there is the breakout of upward channel.. With FOMC today my advice is to define proper risk control before you make any trade.

This image is no longer relevant

Black lines – Upward channel (broken)

Blue rectangle – Major resistance

Yellow rectangle – Support

Blue lines – Downward Pitchfork channel

BTC did break the upward channel and on the way it confirmed that bears took control from bulls. The RSI oscillator showed the bearish divergence, which is another great confirmation that there is potential downward movement in the next period. I did placed Pitchfork lines to see where the BTC can go down. The level of $8.075 seems like a good place to scale position. Only if I see breakout of the $9.444, I would watch for potential buying opportunities.

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 $8000 more!
    In March we raffle $8000 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