BITCOIN Analysis for February 7, 2019 888011000 110888 Bitcoin recently dropped listed below $3,400 and formed a double bottom pattern at $3,360 rate location. When the price was trading lower and fixing itself in between the rate variety of $3,360 to $3,500, it formed a Bullish Divergence which is anticipated to cause particular bullish pressure in the coming days. The rate is presently trading at the edge of breaking above the Pattern Line resistance from where it is expected to push greater towards $3,500 and later towards $3,600. Though the supreme bullish target at the current cost formation is at $4,000, however as the marketplace is unstable and without strong bullish pressure, an excellent quantity of time will be needed to reach such higher resistance at a present market rate. As the price remains above $3,000 location with a daily close, additional bullish pressure is expected. SUPPORT: 3,000, 3,250, 3,360RESISTANCE: 3,500, 3,600, 4,000PREDISPOSITION: BEARISHMOMENTUM: VOLATILE The product has been supplied by InstaForex Company-www.instaforex.com

By | February 7, 2019

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