BITCOIN Analysis for February 12, 2019

Bitcoin is currently trading at the edge of $3,600 after retracing back to the price range of $3,500-600 today. As expected the price retested the support area with a daily candle, which is currently pushing higher with a moderate pace while being held by the dynamic level of 20 EMA as support as well. The volume in Bitcoin is currently quite low due to the price pressure. A daily close above $3,600 will signal further bullish momentum with a target towards $4,000 in the coming days. As the price remains above $3,360 from where the price bounced with strong bullish pressure, the bullish momentum will push the price higher in an impulsive way.

SUPPORT: 3,360, 3,500, 3,600

RESISTANCE: 4,000, 4,250

BIAS: BEARISH

MOMENTUM: VOLATILE

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