Already well: Bitcoin began the year 2019 with small growth
Source:
2019, the year began relatively quietly. A large part of the cryptocurrency from the top 100 of our said event and moderate growth. at the moment still holds its position above the 3800 dollars, though, and is under constant pressure bears.
The Overall situation looks like this:
the-
the
- level of support in the area of 3800 dollars is still significant for traders; the
- scale 1-daily chart may soon break through resistance at $ 4,000; the
- for a pullback to 3500 dollars falling rapidly with each passing day.
This morning, a Bitcoin is trading at $ 3850. For the past day the coin fell one percent.
theTechnical analysis
Scale 1-hour chart, the cryptocurrency is still under pullback after the uptrend that lasted from 3814 to $ 3904. At the point of local minimum asset decreased to $ 3724, but the support line was able to protect the bulls.
The Readings of technical indicators indicate a very high probability of growth in the short term. Parabolic SAR is bullish as the indicator points is already quite a long time beneath the candlesticks on a chart. Chaikin Money Flow is above zero, indicating that the inflow of new money into the Bitcoin market capitalization.
Picture 1-daily chart still looks pretty depressing. The previous two months, we remember the strong decline that has set the global downtrend from 6146 to $ 3195.
While not in the scale of Bitcoin is in an uptrend. In December, the cryptocurrency finally entered the area of strong oversold, thus attracting new customers.
Technical indicators saying about the high probability «back». MACD is gradually moving in the bullish zone and the Bollinger bands indicate the volatility of the asset. The safest bet for traders at the moment is a small long with the fixing of profit in the area of $ 4,000.
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