Bitcoin Price Technical Analysis (BTC/USD) Wednesday, March 13, 2019

During today’s session Bitcoin price continues in a lateralization area between $ 3800 acting as main support and $ 3950 acting as major resistance. Analyzing the level of volume we can notice that, since last March 5 the buyers have been absent.

At this time there is no long entry alert, the price has not had major fluctuations so it is not advisable to trade unless you have a “mature” strategy.

Key Highlights

  • Lateral volume level
  • Few fundamentals that affect the price
  • A moment that benefits adoption

Although, for those who trade, the best moment is when there is high volatility in the market, for those who sell products this moment is the best. This is due to the stability that BTC has presented in recent days, avoiding selling a product in which we would lose money when switching to FIAT.

We see the EMA 9/26 moving averages without major movement, on the other hand the RSI stays at 51%. You do not need to be a WS guru to determine that the market is in a time of uncertainty where no one wants to sell or buy.

I think the healthiest thing is, keep your eyes on the market expecting an increase in the price so that we can take advantage of the momentum although we must be careful not to enter into what may be cheating.

BTC/USD Time Frame 4 Hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (Relative strength index) 51%
  • Support $3800
  • Resistance $3950

 

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.