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2:0 09.02.2019
2019-02-9
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Bitcoin Forecast And Analysis For 9th February: Large Rise Indicates Near Term Reversal

Hello everyone, this is a daily review from Liam Webb from CryptoTradingSchoolOnline specially for Neironix.

Today we've seen a large rise push the price of Bitcoin back above the 3400 resistance level that got broken during the big decline that took place on Monday.

At the time of this writing, the bitcoin course was equal to $3492 and the market capitalization was $61 billion.

The rise began early this morning from the buy area the price had fallen into on Wednesday and had been in for most of yesterday.

The size of this rise leads me to believe we'll see the price continue to rise tomorrow and Sunday, possibly back up to the sell area created from the drop that took place last week (marked in red). There is a small sell area the price is close to entering now, which could cause a small decline before we see the price rise again.

For now, watch to see what happens when the price drives further into the green sell area.

If a small decline takes place when the price enters the area, expect to see another rise begin somewhere around 3384 - 3400. If a much bigger decline occurs and causes the price to fall back into the buy area, expect to see more sideways action over the coming days.

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