BITCOIN Analysis for February 1, 2019 - ConsultFX

BITCOIN Analysis for February 1, 2019

Bitcoin has been quite indecisive and volatile below $3,500. The price dipped below $3,400 recently but managed to push higher in the process. The price is currently residing inside the Kumo Cloud resistance and below 200 EMA dynamic resistance as well. The volatility is still quite strong. After the recent swings, the price is proceeding higher with strong bullish pressures after every corrective bearish momentum. BTC is expected to retest $3,500 again in the coming days. If the price manages to break above $3,500 area with a daily close, BTC is likely to extend bullish pressure with a target towards $4,000.

SUPPORT: 3,000, 3,250

RESISTANCE: 3,500, 3,600, 4,000




The material has been provided by InstaForex Company -