Bitcoin Price Technical Analysis (BTC/USD) Sunday, February 10, 2019

During today’s session Bitcoin price remains slightly above $3585, we had a drop of – 1.04% which has caused BTC to break the $ 3600 line mentioned in yesterday’s analysis. However, when falling just $ 15 this can be recovered quickly, as long as BTC does not continue with the fall.

I hope that, the Monday session will allow a greater capital injection in the crypto market, allowing BTC to break the resistance in the $ 3750/800, in a fast way so that this provokes a new impulse.

Key Highlights

  • Bitcoin slightly breaks the $ 3,600 downward
  • Bitcoin hits the fast moving average of 9
  • Still staying above the MA of 200

Analyzing the BTC/USD chart in 4 hours, we can observe the point of “lateralization” in which BTC has sustained the price, today we had a slight break to the downside, and however there are many possibilities to return to the bullish rally.

One of the points to take into account for a long ticket is $ 3650, provided it breaks with a strong volume. Then we have the target in the $ 3750 or $ 3800 for the most risky.

The RSI remains above 50%, the EMA 9/26 moving averages remain far away so there is a chance of continuing in this upward momentum. Bitcoin needs to break later on Monday, as distrust returns to seize the market, due to the constant drops after a bullish move by BTC.

BTC/USD Time Frame 4 hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (Relative strength index) 65%
  • $ 3600 support
  • $ 3800 resistance

 

Disclaimer
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.