Monday Bitcoin Analysis - 2018-02-12

in #bitcoin7 years ago

Monday Bitcoin (BTC) Analysis - Feb 12th, 2018
The strategies discussed below are suitable for swing traders.

Still in bear area

Bitcoin, being below it’s 200 EMA and having both MACD signal and main below zero mean that bitcoin is still in bear area. The last week price movements that tried to break the 200 EMA was also failed to break it solidly.

But has positive signs

The hammer-like candle at February 6th is a good sign of reversal, especially because it’s touching the support line. MACD signal and main, although still below zero, has crossed for a bullish sign.

Conclusion

Bitcoin is still in bearish area although it has positive signs. For Bitcoin to enter the bullish area it needs to at least above the 50 EMA solidly.
2018-02-12_-_btc.jpg

Bitcoin (BTC) – Feb 12th, 2018


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