FX.co ★ Bitcoin analysis for March 01, 2018

Bitcoin (BTC) has been trading sideways around the price of $10.656. While private businesses all over the world struggle with employees so much as possessing cryptocurrency, the US Commodity Futures Trading Commission (CFTC) has reportedly given the full go-ahead to its employees trading crypto. The technical picture looks neutral to bullish.

Trading recommendations:

According to the 30M time - frame, I found that price successful rejected of the lower diagonal of the upward channel, which is a sign that buyers are in control. I also found a hidden bullish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential buying opportunities. The upward targets are set at the prrice of $10.930 and at the price of $11.040.

Support/Resistance

$10.650 – Intraday resistance

$10.250– Intraday support

$10.930 – Objective target 1

$11.040 – Objective target 2

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