Bitcoin Forecast February 21, 2019



Bitcoin rallied a bit during the trading session on Wednesday, as the US dollar got hit. However, we gained just enough to test major resistance and have pulled back from that same place again on Wednesday that had because so many problems on Tuesday. With this in mind, the analysis will be very similar, but it looks as if there is a lot to think about in this area, as I will layout the case for both directions.

Looking at the $4000 handle, you can see that it is important overall, as it has caused a significant amount of selling pressure on Tuesday. It was also the scene of the latest large red candle, so it makes sense that there is probably a bit of selling pressure there. Overall, it’s also a large, round, psychologically significant figure, so it makes sense that there will be sellers there waiting to push this market lower, which of course makes even more sense considering that it is in a longer-term downtrend over the last 15 months or so.

for more analysis:



Bitcoin rallied a bit during the trading session on Wednesday, as the US dollar got hit. However, we gained just enough to test major resistance and have pulled back from that same place again on Wednesday that had because so many problems on Tuesday. With this in mind, the analysis will be very similar, but it looks as if there is a lot to think about in this area, as I will layout the case for both directions.

Looking at the $4000 handle, you can see that it is important overall, as it has caused a significant amount of selling pressure on Tuesday. It was also the scene of the latest large red candle, so it makes sense that there is probably a bit of selling pressure there. Overall, it’s also a large, round, psychologically significant figure, so it makes sense that there will be sellers there waiting to push this market lower, which of course makes even more sense considering that it is in a longer-term downtrend over the last 15 months or so.

for more analysis:

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