Will Bitcoin continue to grow?

By April 9, 2019 13:07

Hi, traders! Let’s examine the situation with Bitcoin. Who has not seen my forecast for the past week, you can view it here: Bitcoin has grown rapidly. What to expect next?

I remind you that I trade on the Poloniex exchange with a pair of BTC / USDTs. Therefore, we will disassemble it. (timeframe – 1 day).


BTC traded at a mark of $ 5,121. In the course of a week we are watching a slow but sure set of positions.

The level of resistance is at $ 5436. If this level drops, this mark will serve as a good entry point. (Stop Loss as always, in this case we put the level, Take Profit – $ 5900- $ 6000).

On the other hand, although the RSI gives a bull signal, however, it is in the overbought zone. Based on these data, we can state that we are waiting for a correction. So far, it’s difficult to judge the depth of correction… to target the $ 4784- $ 4845 support zone. It is at this point that you should sharpen your attention to placing a stop order, if you are still in position. And for others it is a possible entry point in the market.

In addition, although now it seems unlikely, you should not forget about a possible breakdown of this support. If this happens, then the price may drop to $ 4219.

Good trades for all and profitable deals!

Recall that real time cryptocurrency charts can be viewed on our site.

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By April 9, 2019 13:07