Bitcoin Price Analysis (BTC/USD) Monday, March 18, 2019

During today’s session the Bitcoin price continues lateralized above $ 3900, the trend triangle drawn during Friday’s session remains unbroken by BTC.

The purchase volume during the session today is reported low, while the RSI remains above 57%, a decisive point for the purchase is given if BTC manages to exceed $ 4050.

Key Highlights

  • Bitcoin lateralized at $ 9600
  • Has failed to break the pennant
  • Low purchase volume

Analyzing the BTC/USD chart in 4-hour time, we can see how the volume e buys at decelerated. I think that at this point it is not advisable to enter long since we have the price above $ 3900 plus the movement is slow so we could have a pullback around the corner.

The moving average EMA 9/26 remains distant after the bullish cross at $ 3850. Everything will depend on the movement that BTC makes above $ 3900, that is, if it manages to leave the triangle breaking the $ 450 the next target would be $ 4200, so a purchase would be an option.

I believe that BTC moves slowly through with greater stability, this causes an improvement for those who make transactions on a daily basis (goods or services); however, it complicates the panorama for those who trade.

BTC/USD Time Frame 4 hours

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 57%
  • Support $3900
  • $ Resistance $4050

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.