Will Bitcoin continue to grow?

Cryptomaniac
By April 9, 2019 13:07
BTC1-coinconomist

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 / USDT

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.

Subscribe to our Telegram channel (Russian) and Twitter (English) to be aware of the latest news.

ServiceDescriptionRead overviewStart trading
Risk Warning: Remember that using various services for the exchange and trading of cryptocurrency carries risks to your capital. We are not responsible for the safety of your funds.
The largest cryptocurrency trading platform. Large selection of coins, a variety of markets, support of stablecoins.Read overviewStart trading
The best centralized exchange for the purchase of cryptocurrency using bank transfers and cards.Read overviewStart trading
localbitcoinslogoThe best and largest P2P cryptocurrency exchange in the world. Support for many countries, low commissions, reliability and safety tested by time.Read overviewStart trading
Cryptomaniac
By April 9, 2019 13:07