BITCOIN Analysis for February 19, 2019

Bitcoin has been riding a rally after consolidating at the edge of $3,600 for a few days. The bullish pressure turned impulsive and non-volatile after the third bounce off the $3,600 was hit which was carried by the dynamic levels like 20 EMA, Tenkan, and Kijun line all the way towards $4,000 resistance area where it is currently holding with certain volatility. Currently the price is moving lower amid bearish pressure from the area of $4,000 from where the price will make a correction under bearish pressure before the price resumes the bullish momentum to break above $4,000 and reach upcoming price area of $4,250 and later towards $4,500 in the coming days. The price may close above $4,000 that will encourage a further continuation of this non-volatile bullish trend in the future.

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

RESISTANCE: 4,000, 4,250, 4,500




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