Bitcoin analysis for February 27, 2019

The 4-day balance is active on the BTC. Key support remains at the price of $3.678.

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Strong bearish outside bar in the background can represent the beginning of the new downward trend. It is normal that after the big down day BTC trade sideways because the market needs to rest before the new momentum. Major resistance is set at the price of $4.172.

Trading recommendation:

We are neutral on the BTC but we will sell if we see breakout of support at $3.678 with a target at $3.524 and stop at $3.855.

The material has been provided by InstaForex Company - www.instaforex.com

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