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BTCUSD analysis: Bitcoin price attempts recovery

OctaFx | Mar. 7, 2019
BTCUSD analysis: Bitcoin price attempts recovery

March 7, OctaFX – Bitcoin price is attempting to stage an upside recovery on Thursday, after key trendline support on the daily time frame held firm earlier this week.

Bitcoin price analysis: BTCUSD bullish above $3,650

If BTCUSD bulls can move price above the February trading high, the number one cryptocurrency is likely to test its 100-day moving average, at $4,200. The daily time frame also shows that the Stochastic and RSI indicators have turned bullish.

  • The BTCUSD pair is bullish while trading above the $3,650 level, key technical resistance is found at the $4,000 and $4,200 levels.

  • If the BTCUSD pair trades below the $3,650 level, sellers may test towards the $3,500 and $3,300 support levels.

Bitcoin price

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.