Technical Analysis of Bitcoin: March 11, 2019

Bitcoin Technical Analysis

Hello today March 11, 2019,

Bitcoin is not able to break the $ 4,000 resistance. Bitcoin, which tested $ 4,046 on March 9, continued to fall despite the bulls' move and broke the 12-day EMA.

Bitcoin Mid-Term Overview: CROSS

Resistance Levels: $ 6,800, $ 6,900 , $ 7,000

Support levels: $ 3,800, $ 3,700, $ 3,600

Last week the price of Bitcoin was on an upward trend. The price of the leader of the crypto coin was trading above $ 3900 and trying to lower the resistance level. After each test of the bulls' resistance level of $ 4,000, the Bitcoin price moved towards the downward trend. For example, on March 9, the bulls raised the price to $ 4,046 and then the Bitcoin price fell and broke the 12-day EMA

Bitcoin's price is currently above 26-day EMA and is traded. In the downward direction, if the bears break the EMAs, the Bitcoin price moves to the downward trend zone. Otherwise, if the EMA breaks in the upward direction, the bulls go up to the upward trend with the support of the 26-day EMA and the Bitcoin price continues to rise and continue to increase.

Bitcoin Short-Term Overview: CROSS

Resistance Levels: $, $ 6,900, $ 7,000

Support levels: $ 3,800, $ 3,700, $ 3,600

On the 4-hour chart, the price of Bitcoin is in the upward trend. On March 9, the price moved to the downward trend zone and launched a border movement in the price range of $ 3,981. The bulls resisted fairly firmly in this downward trend zone.

According to the scenario, if the price moves down and the bulls reach the EMAs, the Bitcoin price will try to hold on to the resistance level of $ 4,000. As can be seen in the chart, the price is in an upward direction. If the candlestick formation, which is indicated by the arrow, remains intact, the price will not move to the direction of the candlestick. After this move, we can talk about the power of the bulls. In addition, the MACD W and the RSI also approve a possible rise

The opinions and analyzes expressed here do not reflect the views of and are not financial advice. Therefore, you should always do your own analysis yourself. In order not to be dependent on others;

With love and respect


WARNING: The above-mentioned prices, graphs and analyzes are not an investment advice. It is intended to provide a general perspective to the market.