BITCOIN Analysis for January 15, 2019 - ConsultFX

BITCOIN Analysis for January 15, 2019

Bitcoin managed to push higher above the $3,600 area after a certain bounce off the area from where the price is currently making a correction before pushing further upwards in the process. The price is currently held by 200 EMA as resistance while Kijun and 20 EMA are holding the price as support. The price movement above Kumo Cloud also indicates that the bullish pressure is quite stable now and may lead to further bullish momentum in the coming days. Though the trend is currently bearish, but having certain bullish engulfing momentum in the process, further upward momentum is expected as the price breaches above 200 EMA with a daily close. As the price remains above the $3,500-600 area, the impulsive bullish pressure is anticipated to continue in order to push the price higher towards the $4,000 area in the future.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 4,000, 4,250, 4,500




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