Bitcoin analysis for April 30, 2019

BTC price did break new created bullish flag pattern on the 4H time-frame and confirmed the rejection of the lower diagonal of the upward channel. Watch for buying opportunities.

Orange rectangle – Resistance level, which became support

Purple rectangle – major short-term resistance

The bearish correction is completed in our view since the orange supply trendline got broken. The smaller bullish flag pattern did create just after the breakout of the support, which is sign for the further near-term upward movement. BTC Is still trading inside of the upward channel and BTC is expected to trade towards the resistance levels at $5.673 and $5.902. Support levels are seen at the price of $5.530 and $5.340.

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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