BITCOIN Analysis for February 11, 2019

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Bitcoin is currently residing above $3,600 area after an impulsive bullish pressure bouncing off the $3,360 support area recently. After breaking above the Triangle resistance with certain Bullish Divergence formation in place, the price managed to push higher above the event area of $3,500-600 with a daily close recently. The price is currently expected to consolidate and correct with certain bearish pressure along the way between the range of $3,500-600 area before it starts to push higher towards $4,000 in the coming days. As the price remains above $3,500, the impulsive bullish pressure is expected to continue further.

SUPPORT: 3,360, 3,500, 3,600

RESISTANCE: 4,000, 4,250

BIAS: BEARISH

MOMENTUM: VOLATILE

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

Source:: BITCOIN Analysis for February 11, 2019

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