BITCOIN Analysis for February 15, 2019

Bitcoin is currently trading above $3,600 with the view of a further climb. The price is breaking above the trend line resistance. The price is currently being contained by the Kumo Cloud resistance and held by the dynamic levels like 20 EMA, Tenkan, and Kijun line as support. According to the MACD, the price has not formed any strong Bullish Divergence evidence yet. However, being above $3,500-600 indicates that the bulls are ready to push the price higher in the coming days. As the price breaks above $3,650 with an intraday candle or bar, further bullish pressure is expected to continue in the coming days with a target at $3,750 and later towards $4,000.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 3,750, 4,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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