Market Update

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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

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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



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