empty
 
 
21.02.2019 01:25 PM
BITCOIN Analysis for February 21, 2019

Bitcoin moved lower after rejecting off the $4,000 area with a daily close as expected. Recent formation of Bearish Divergence at the price area of $4,000 provided evidence of the recent dip in the market which is likely to be viewed as retracement for a further upward move. BTC advance is currently subdued by the Kumo Cloud as support, while dynamic levels such as 20 EMA, Tenkan and Kijun line are neutral above the current price line.

Though Bitcoin is losing its shine, it still maintains demand among crypto investors that is being reflected in the chart. The BTC rally starting off the $3,500-600 showcases the bullish market sentiment which will push the price higher after a retracement and downward corrections. As the price remains above $3,500-600 with a daily close above $4,000, be ready for further bullish pressure with a target towards $4,250 and later towards $4,500.

FUNDAMENTAL ASPECT: NEUTRAL

TECHNICAL ASPECT: BULLISH

MOMENTUM: VOLATILE

POSSIBILITIES: STRONG BULLISH ABOVE $4,000

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