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Bitcoin [BTC/USD] Technical Analysis: Bear continues to wreak havoc as cryptocurrency pushes through

The cryptocurrency market’s volatile behavior has been sporadic, to say the least with a majority of the top cryptocurrencies feeling the brunt of the bear right now. Bitcoin [BTC], which was expected to show up in 2019 remains below the $3500 mark after rampant bear attacks tore down supports and lowered resistance.

1 hour:

The one-hour chart for Bitcoin shows the sideways movement in full flow as the prices remain majorly unchanged. The support has been holding at $3358.65 while the immediate resistance is at $3619.67. The recent downtrend dropped the price from $3470.51 to $3418.57.

The Relative Strength Index is right in the middle of the graph which is a sign of the selling pressure and buying pressure being almost equal.

The Awesome Oscillator shows a gradual lull after a couple of days of a moderate change. This points to the fact that the market momentum of the cryptocurrency market has reduced.

1 day:

Bitcoin’s one day graph shows a clear fall in prices as the value…

Read Full Story : AMBCrypto

2019-02-04 10:30:46

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