Forex

Bitcoin (BTC) Daily Price Forecast, November 19, 2018

Current dynamics, Bitcoin quotes for a short time went beyond the lower limit of the 6255.85–6524.88 range, however, they failed to gain a foothold there and quickly returned to the area of ​​6260.00.

Bitcoin (BTC) Daily Price Forecast,  November 19, 2018

In general, the downward trend continues, however, the development of upward correction should not be completely excluded.

On the 4-hour chart, technical indicators do not give a single signal. MACD volumes decreased slightly in the negative zone, the indicator still keeps a sell signal.

The Bollinger Bands are directed downwards, the price going beyond the lower border of the bands serves as a signal for correction with the main goal around 6300.00 (the middle line of the Bollinger Bands). The lines of the Stochastic are directed upwards, which indicates the growth potential.

The upward trend may continue after the price fixes above the level of 6289.06 (Murray [1/8]). In this case, growth will continue to the area of ​​6300.00. Breakdown and consolidation of the price below the level of 6250.00 (Murray [0/8]) will lead to the fall to the area of ​​6210.94 (Murray [-1/8]).

A more serious decline will be possible after fixing the price below 6210.94. In this case, the main goal of sellers will be the level of 6172.15 (Murray [-2/8]).

Support and resistance

Support levels: 6250.00, 6210.94, 6171.88.

Resistance Levels: 6289.06, 6328.13, 6367.19.

Bitcoin (BTC) Daily Price Forecast,  November 19, 2018

Trading tips

Short positions can be opened below the level of 6250.00 with targets in the area of ​​6210.94–6171.88 and a stop loss at the level of 6275.00.

Long positions will become relevant above the level of 6289.06 with targets in the area of ​​6300.00–6367.19 and a stop loss at 6263.00.

 

Scenario

Timeframe Intraday
Recommendation SELL STOP
Entry Point 6249.00
Take Profit 6210.94, 6171.88
Stop Loss 6275.00
Key Levels 6171.88, 6210.94, 6250.00, 6289.06, 6328.13, 6367.19

 

Alternative scenario

 

Recommendation BUY STOP
Entry Point 6290.00
Take Profit 6367.19
Stop Loss 6263.00
Key Levels 6171.88, 6210.94, 6250.00, 6289.06, 6328.13, 6367.19

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