Bitcoin Price Technical Analysis (BTC/USD) Tuesday, February 12, 2019

Today’s session advances as the Bitcoin price moves slowly to a lower position, losing 0.28%, sending the price to $ 3580 at the time of writing this analysis.

While the loss of around $ 30 dollars breaking the support of $ 3600 is something that can be recovered, this causes the distrust mentioned in the analysis on Monday as it can be interpreted as another downward movement of BTC which could go to play the main support in the $ 3000.

Key Highlights

  • Bitcoin slips under $ 3580
  • A possible cross between bearish moving averages
  • RSI touching 50%

Analyzing the BTC / USD chart in 4-hour time, we can see how the BTC smoothly moves towards a possible EMA 9/26 downside crossover. On the other hand, the buying power has weakened, this happens in large part due to the distrust of investors to see that BTC has not had enough strength to continue its rally.

At this moment, the price depends on the movement that BTC makes to attract or drive away investors, thus causing an EMA crossing to the downside.

At this time it would be best to wait for the validation of the mobile stocking crossing to the downside in case you want to enter short. To enter long the same metrics mentioned since yesterday (purchase after the $ 3650) are maintained.

BTC/USD Time Frame 4 hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 52%
  • Support $
  • 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.