Bitcoin analysis for February 11, 2019 - ConsultFX

Bitcoin analysis for February 11, 2019


Bitcoin spiked higher and tested the price of $3.763. Our profit target at $3.543 has been reached. Anyway, after the spike I found a sideways regime, which usually happens after the climatic activity. Symmetrical triangle is building and you should pay attention for the potential breakout of support or resistance trendline.

Trading recommendation:

Scenario 1 : Bitcoin breaks the resistance trendline $3.685 and test $3.763

Scenario 2 : Bitcoin breaks the support trendline $3.640 and test $3.595.

The material has been provided by InstaForex Company -