Bitcoin Price Technical analysis (BTC/USD) comes February 22, 2019

The session advances towards the weekend while Bitcoin reports a slight increase of +1.34, gently touching the $3950. This is a good sign, however you have to take into account the volume, if BTC breaks with a low volume level, it would be best to place our entry higher type $3980.

Although at this moment BTC bullish reports with high probabilities of going for the target of $ 4200 which in turn are the main resistance and a possible point of profit taking.

Key Highlights

  • Bitcoin increases more than 1.34%
  • Optimistic market under the control of the bulls
  • At a general level BTC is still in a bearish zone but improving

Analyzing the BTC/USD chart in 4 hours, we can see that BTC shows optimism, the last 2 impulses have been more controlled which allows that there is not a pullback as strong as what we saw in previous years.

Although BTC has reported an improvement during this month, it must be taken into account that it is still in a bearish area comparing 2019 vs 2018.

The RSI remains below the over-purchase area of ​​70% which is healthy for BTC to move towards resistance at $ 4200, the volume should be better although the current one is not bad at all.

BTC/USD Time Frame 4 Hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 64%
  • Support $ 3800
  • $ 4200 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.