Bitcoin analysis for January 11, 2019 - ConsultFX

Bitcoin analysis for January 11, 2019


Trading recommendations:

According to the 30M time - frame, I found strong selling pressure in the background, which is a sign that sellers are in control. Anyway, usually after the stong impulsive movement we may expect the correction. I have found that BTC is created possible bearish flag pattern, which is a sign for potential downward continuation. My advice is to watch for selling opportunities after a breakout of the flag. A downward target is set at the price of $3.333.


$3.641 – Intraday resistance

$3.478– Intraday support

$3.333 – Objective target 1

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company -