empty
 
 
26.03.2019 10:43 AM
BITCOIN Analysis for March 26, 2019

Bitcoin sank below the Triangle pattern in the support area with a daily close recently which pushed the price down to the edge of $3,880 support area. Despite the formation of the descending Triangle pattern, a sudden breakout below support was a surprise for the bulls. Meanwhile, the price is currently being propelled higher away from the strong support area of $3,800-80.

The price managed to reject off the support area quite well but could not establish impulsive counter-momentum to break above the dynamic level of 20 EMA. Moreover, MACD is showing a bullish crossover currently that indicates vaguely further bullish momentum in the coming days. As the price remains below $3,950-$4,000, the bearish pressure is expected to push the price lower with a target towards $3,500-600 support area in the coming days. On the contrary, a break above $4,000 with a daily close will encourage further bullish pressure with an upward target towards $4,500.

SUPPORT: 3,500-600, 3,800-80

RESISTANCE: 3,950, 4,000, 4,250, 4,500

BIAS: BEARISH

MOMENTUM: VOLATILE

This image is no longer relevant

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