Whaleshares Logo

Bitcoin Technical Analysis: BREAKOUT IN PRICE AND VOLUME

workin2005Posted for Everyone to comment on, 5 years ago2 min read

Analysis_Logo Resize.png

Bitcoin has broken above the $3,600 resistance, and is now testing $3,800. This breakout was backed by a very bullish increase in volume.

Screen Shot 2019-02-18 at 9.30.16 AM.png
Screen Shot 2019-02-18 at 9.31.51 AM.png

Looking at the daily MACD, we're seeing some slight bearish divergence. This suggests we could see a pull back. Should that happen, I’d watch for support around $3,700-$3,650.

Screen Shot 2019-02-18 at 9.42.56 AM.png

The daily chart also shows price breaking above the 50 day MA. If the daily candle closes above the 50 day MA, it’ll be a good indication this latest breakout has legs...at least temporarily.

Screen Shot 2019-02-18 at 9.31.22 AM.png

In today’s video analysis I go a little more in-depth. I discuss market psychology, where price may go next, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:


I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

If you found this post informative, please:

upvote.gif

Open an Account on Binance here:
https://www.binance.com/?ref=16878853

Support the Crypto Ecosystem and help keep my content free with Brave Browser:
https://brave.com/wor485

Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005


Published on:

mentormarket.io
by Workin2005


https://mentormarket.io/legal/termsandconditions

Sign Up to join this conversation, or to start a topic of your own.
Your opinion is celebrated and welcomed, not banned or censored!