Bitcoin price analysis february 2019


bitcoin price analysis february 2019

these the emotions kick in, the fomo aka Fear of Missing Out. It seems that the same scenario is likely to take place during todays later trading sessions too, so even if bitcoin price rises near 9,453.10, the markets bulls wont be able to breach this resistance level which will reverse the current upwards price correction attempt. Will bitcoin price continue rising after bouncing off the.6 Fibonacci retracement level? As such, this level may ignite an upwards price correction attempt that can take bitcoin price up to 7,000, before the bearish wave becomes active again. The macd indicator is sloping in an upwards direction, and the blue macd line has just crossed above the red signal line. The markets bulls are steadily pushing bitcoin price upwards towards 11,788 which represents a crucial resistance level that was last tested on February 20th. Conclusion: Bitcoin price dropped to record a low of 6,000 during Tuesdays trading sessions, after which signs of reversal of the bearish wave became apparent on the 4 hour btcusd chart. Looking at the weekly charts, we have a slight uptick on the macd slightly closing the gap, looking like it wants to cross. Chart from Bitfinex, hosted on m Bitcoin price analysis - consolidating above 11,000 Following a brief downwards price correction attempt during Sundays later trading sessions, bitcoin price continued soaring on Monday reaching a high of 11,208 at the time of writing of this analysis. We also saw a bull push this morning that bounced off that now 3900 pressure/support line.

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The fifth impulse wave is expected to continue to build during the upcoming week to attempt testing the resistance around the.6 Fibonacci retracement, which corresponds to the 15,781.10 price level. Exchanges feeling the pinch We are seeing evidence of the Great Shakeup within the crypto markets. Chances are high that bitcoin price will continue on soaring, at a relatively steep rate of rise, due to the fact that the next significant resistance levels lie around 11,080 and 11,788 respectively. It has breached the.6 Fib retracement level of the last drop, from the 11,920 high to 10,035 low. While the bitcoin price fell below this level twice, it rose above it within less than two hours on both occasions. We can note the following: Earlier on Tuesday, bitcoin price dropped down to test the support level around 6,141.30, which corresponds to the.4 Fibonacci retracement.

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