Bitcoin analysis for February 13, 2019

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Bitcoin has been trading downwards. The price tested the level of $3.590. We found the failed test of the resistance at $3.760, which is a sign that buyers don't have power at this stage. We also found the broken intraday support trendline at $3.640, which is a sign that sellers are in control. If BTC breaks the support at $3.592, we may see a test of $3.542.

Trading recommendation: We sold intraday BTC at $3.630 with protective stop at $3.760.

The material has been provided by InstaForex Company - www.instaforex.com