Bitcoin analysis for March 01, 2019

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Nothing has specially changed since my previous analysis. BTC did a fake breakout of support at the price of $3.680, which is a clear-cut sign of a trend reversal.

We found a strong rejection of the support at $3.680 in combination with the bullish divergence on the Stochastic oscillator, which is an obvious sign of a trend reversal. Support is seen at the price of $3.634 and resistance is at $3.900.

Trading recommendation: We are bullish about BTC from 3.810 with targets at $3.900 and $4.060. Protective stop is placed at $3.630.

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

Source:: Bitcoin analysis for March 01, 2019

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