BITCOIN Analysis for January 18, 2019

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Bitcoin managed to climb higher above the dynamic level resistance of Kumo Cloud, Tenkan, Kijun, and 20 EMA resistance recently. The price is currently heading towards the 200 EMA resistance at $3,700 area. If is broken above, further bullish pressure towards $4,000 is expected in the coming days. Bitcoin is still quite volatile, trading inside the corrective range. Amid Chikou span clearing the price line resistance as well as breaking above Kumo resistance area, the dynamic levels are now acting as active support. Such movement is expected to lead to further bullish momentum in the future. As the price remains above $3,500-600 support area while being supported by the dynamic levels, bullish pressure is expected to persist in the coming days.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 3,700, 4,000, 4,250

BIAS: BULLISH

MOMENTUM: VOLATILE

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

Source:: BITCOIN Analysis for January 18, 2019

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