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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Bitcoin analysis for January 17, 2019

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BTC did a false breakout of the 2-day low at the price of $3.530, which is a sign that selling looks risky. I have found a strong reversal bar (reversal up-thrust), which is a sign that smart money did shake out the weak trading money. I have also found the breakout of the supply trendline, which is another sign of strength. Watch for buying opportunities.

Trading recommendations for today: We are long BTC from $3.575 with the upward targets at the prrice of $3.647 and $3.687 and a protective stop below the level of $3.520.

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