Bitcoin analysis for January 23, 2019 - ConsultFX

Bitcoin analysis for January 23, 2019


Trading recommendations: Nothing has changed since my yesterday's analysis. BTC has failed to reach the Pitchfork median line, which is a sign that sellers are loosing power and the demand may increase. There is also a breakout of the Pitchfork diagonal (resistance) which is another confirmation of strength. The key support at the price of $3,420 held successfully and I expect further bullish movement. I also found the breakout of the bullish flag, which is another sign of strength.

Trading advice: We are bullish on BTC from $3,540 with the targets at $3,742 and $4,086. The protective stop is placed below $3,420.

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