Bitcoin price hits the target – Analysis - 19-02-2019

Bitcoin price rallied upwards strongly yesterday to succeed achieving our waited target at 3920.00, which represents 23.6% Fibonacci correction level for the decline measured from 6555.00 to 3107.00, and the price gets continuous positive support by the EMA50, to support the chances of breaching the mentioned level and extend the correctional bullish wave to target 4224.00 level as a next station.

Therefore, we will continue to suggest the bullish trend in the upcoming period unless the price failed to breach 3920.00 and rebounds bearishly to break 3810.00 and settle below it.

The expected trading range for today is between 3720.00 support and 4200.00 resistance

The expected trend for today: Bullish