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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.



Expert In



Short-term technical analysis on Bitcoin.

Bitcoin is trading around $39,000. Price has made an important low around $30,000 and since then it is making higher highs and higher lows. Price so far respects the short-term trend line support and as long as this is the case, we expect Bitcoin to recapture $40,000 and move towards $45,000.


Black line - support trend line

Bitcoin as can be seen in the 4 hour chart above is making higher highs and higher lows. The black support trend line is being respected thus far. Key support is at $34,500. Breaking below this level will increase chances of a break below $30,000 towards $25,000. Resistance is at $40,500-$41,100 and breaking above it will give us a new bullish signal that could bring price towards $45,000 and higher. The RSI is not in overbought levels. There is no sign of a reversal to the downside or that this recent upward move is complete.

The material has been provided by InstaForex Company -