Bitcoin Price Technical Analysis (BTC/USD) Friday, March 15, 2019

Weekend session is here, while Bitcoin price continues in an area similar to yesterdays. In 4 hours chart, we can see a slight upward movement.

From the fundamental side, CBOE announced that it will not momentarily issue more Bitcoin futures as of this month. This is related to the low transaction volume that is being obtained through futures.

Key Highlights

  • Bitcoin with a slight improvement in 4 hours chart
  • CBOE announces that it will not issue, more futures
  • The market remains lateralized

The BTC market remains relatively low; there have been no events that boost the value. From a fundamental aspect, it is evident the slowdown that BTC has had regarding the purchase demand.

As we mentioned earlier, another factor that is keeping the price of BTC between $ 3800 – $3950 is fear. For what many investors buy at a point like $ 3880 and sell at $ 3950 creating that circle that does not allow BTC to break successfully and much less than continuity to the trend.

For the time being, if you are going to enter in long, keep in mind that the $ 3950 is a point of strong profit taking, so letting that operation run should be very cautious.

BTC/USD Time Frame

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 62%
  • 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.