empty
 
 
25.03.2019 08:55 AM
BITCOIN Analysis for March 25, 2019

Bitcoin has been struggling and consolidating at the edge of $4,000 after impulsive bearish pressure observed recently which aroused after the rejection off the $4,100 area. Though the bearish pressure was very impulsive, it failed to sustain the impulsive bearish momentum to push the price even lower.

The price recently formed a downward sloping triangle. If the pattern is broken, a further step will be to break above $4,000. This will lead the price higher towards $4,250 in the coming days. The volatility is still quite high in Bitcoin. However, the price is likely to create a clear path to progress higher after a breakout above this corrective structure. As the price remains above $3,800-80 support area, the bullish bias is expected to continue further.

SUPPORT: 3,500-600, 3,800-80

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

BIAS: BULLISH

MOMENTUM: VOLATILE

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback