Bitcoin Price Technical Analysis (BTC/USD) Monday, February 25, 2019

During today’s session the Bitcoin price reported a slight recovery of +1.35 after having fallen more than $ 100 during the session on Sunday.

The price has rebounded in the support of $ 3734 looking to return above $ 3800, which is an important support. On the other hand in 4 hours chart we can see a cross and moving averages downwards.

Key Highlights

  • Bitcoin falls more than $ 100 during the session on Sunday
  • The price starts a slight recovery towards the $ 3800
  • Positive optimism continues

While we have had a decline of more than 10% this has not affected the psychology of the market directly, the market is optimistic about the pullback of BTC as a purchase option before the third bullish momentum.

Obviously a long entry is better when the price crosses the $3830 since we can have a clearer perception of the new impulse. On the other hand, be alert to the volume with which BTC increases since being a low volume could be a trap.

The crossing of moving averages EMA 9/26 was inevitable in the 4 hours chart before the rapid fall of the BTC; however the market still reports a strong tendency to recovery with target in the $ 4200.

BTC/USD Time Frame 4 Hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (Relative strength index) 41%
  • Support $3734
  • Resistance $4200

 

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.