Bitcoin Forecast And Analysis For 19th February: Huge Rise Indicates Move To 4000

Bitcoin Price Breakout and Market Cap Analysis

Today we've seen bitcoin finally break out of the consolidation - sideways movement - it has been in for the past week.

At the time of this writing, the bitcoin course was equal to $3907 and the market capitalization was $67.4 billion.

The breakout started in the early hours of this morning when a sudden rise caused the price to peak above the highs made last week. As the rise continued it gathered more and more strength and over the last few hours a much bigger rise that caused the price to increase a lot more than any of the rises seen since the early hours of this morning.

Bitcoin Forecast and Support Levels

The fact the price has now broken the consolidation to the upside suggests we could see it reach 4000 in the coming days. RIght now we are seeing the price fall slightly, however, I think this is probably because the whale traders are taking some profits of off their positions, so I wouldn't think too much of it.

There is a buy area that's been created by the rise found between 3639 and 3707. If the price continues to decline and falls back into this area, keep an eye out for signs of a reversal because there's a high probability the price could reverse from this area and cause the next leg of the rise up to 4000.