Bitcoin Price Technical Analysis (BTC/USD) Monday, February 11, 2019

During today’s session the Bitcoin price kept above the $ 3600 line. As I mentioned in yesterday’s analysis, Bitcoin needs to increase sooner than $ 3650 to have a positive impact on investors, who no longer trust the sudden movements of BTC.

Bitcoin is still in a bearish area, the price has managed to hold above $ 3600 but it is not enough. As I mentioned, my long entry point is $ 3650.

Key Highlights

  • Bitcoin stays slightly lateralized
  • BTC continues above MA 200
  • The price should break the $ 3650 as soon as possible

The reason why I repeatedly mention the $ 3650 issue is because I am concerned about investor confidence, if BTC continues to be lateralized it is very likely that we will see another setback.

As happened with the fundamentals at the beginning of 2017, this increased the price. The movements of technical analysis no longer act as a psychological impulse in trading, that is, the average investor does not trust to see an increase due to the history of setbacks that have accompanied such increases in price.

Personally. Long income when the price breaks up the $ 3650 and the RSI stays above 50% without touching 70%. In addition the fast moving average had to cross the slow one.

BTC/USD Time Frame 1 Day

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 60%
  • $ 6000 support
  • Resistance $ 6800

 

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.