Bitcoin Is Going Sideways But We Still See The Bottom

Bitcoin Is Going Sideways But We Still See The Bottom

Company does not offer investment advice and the analysis performed does not guarantee results.The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.


Black line -resistance

For a 3rd day Bitcoin price has made no real progress. After the sharp sell off from $24,000 to $20,800 Bitcoin has paused the decline and price is moving sideways. Bottoms are not formed in this way and that is why I give very little chances that we have seen the low in Bitcoin price. Bitcoin remains vulnerable to new lows below $17,600 as long as price is below the major resistance trend line. Bitcoin remains in a sideways price action with a slight positive slope. Bitcoin buyers will get another chance to buy Bitcoin at lower levels. This remains our key scenario.


Source: Forex Analysis & Reviews: Bitcoin remains for a third day around $21,300


Bitcoin Is Going Sideways But We Still See The Bottom

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker regulated by CySec with license number 266/15.


Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. Besides, the broker ensures the Negative balance protection. So, the reliability and trustworthiness of this broker raise no doubts.


Instaforex offers access to more than 2,500 instruments (Stocks CFDs, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms, trading accounts in EUR, USD, PLN, CZK, GBP.


More information at:

Follow InstaForex on:

Twitter | LinkedIn