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Bitcoin analysis for November 19, 2018

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Trading recommendations:

According to the H4 time - frame, I found that BTC has traded downwards. As I expected, BTC reached my Friday's target at $5.170. Since the selling presure is still strong, my advice is to watch for selling opportunities. Watch for a potential breakout of the support ($5.170) to confirm further downward continuation. The projected downward target is set at the price of $4.795 (Fibonacci expansion 100%).

Support/Resistance

$5.614 – Intraday resistance

$5.170– Intraday support

$4.795 – Objective target

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