Bitcoin analysis for April 12, 2019

analytics5cb0991a14379.jpg

BTC has been trading sideways at the price of $5.047. We are still bearish and the downward movement is expected to happen.

According to the H4 time-frame, our analysis from yesterday is still active and didn’t change. We found that our support trendline got finally broken, which is sign that sellers are in control and that buyers got exhausted. Also, we found that fake breakout of the resistance at $5.324 in the background, which adds more weakness on the BTC. Our advice is to watch for selling opportunities with the downward targets at $4.651 and $4.133. Key resistance level is seen at the price of $5.445.

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

Source:: Bitcoin analysis for April 12, 2019

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*