Market Update


Insights for the Asian Crypto trading session Monday 18/02/19

  • BTC/USD: Bitcoin breaks higher from bullish flag structure

  • ETH/USD: Breaks bullish pennant structure, storms higher towards $135

  • XRP/USD: Still holding support at $0.30 cents, trying to break higher

  • LTC/USD:  Maintains bullish price structure trading back above 100/200 hour MA’s

  • EOS/USD: Bulls in control, price trades back to retest $3.00 rejection level

BTC/USD Technical Analysis: Breaks bullish flag resistance, trades higher

  • Bitcoin breaks bullish flag resistance on hourly chart

  • BTC/USD trading above 100 & 200 hourly MA’s

  • Target for bullish break towards $4,000 level

BTC/USD  Hourly chart

BTC Hourly Flag 180219.PNG

Our Forecast

BTC/USD: Bitcoin has broken the resistance level of a bullish flag structure formed on the hourly chart. Price is seen supported in the short term by the 100 and 200 hourly MA’s at $3,682 & $3,685 respectively. The target profit zone for this short term technical breakout is approximately $300 higher than the break resistance break level identified in the flag structure, or around  the $4,000 zone. We recommend buying on pullback towards $3,700/$3,750 with stops at $3,590 and profits at $4,000.

Hourly Technical Analysis Summary: Buy

Moving Averages: Strong Buy

Oscillators: Buy

Support 1:               $3,730

Support 2:               $3,690

Resistance 1:                $3,800

Resistance 2:          $3,880

The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.