Bitcoin Price: Doji Candle Forming for BTC Today

2019-2-1 19:04

Bitcoin Daily Chart – Source: Tradingview.com

Bitcoin met resistance at $3476 during a brief recovery from the bearish start to the week.

The price has since started to trade away from the $3476 resistance and is currently forming a Doji candle.

A Doji candle is a candle where the open and the close are around the same point and typically reflect uncertainty from traders.

Bitcoin 4-Hour Chart – Source: Tradingview.com

Despite price forming a Doji candle today, it has been making significant movements within the range it has been trading in.

Price has met resistance at $3476 which was a former support level.

Price has also been meeting support at $3353 which has also been a level of support in the past.

Price briefly formed a 2019 low below $3353, but it quickly rose back up.

Another drop and close below $3353 may result in price depreciating to the point of the low last year at $3122.

The current trading in a range we are seeing increases the likelihood that the next significant move will be a bearish one.

Key Takeaways: Doji is forming on the daily chart reflecting uncertainty from traders. Price has been trading between a range from support at $3353 to resistance at $3476. Another drop below $3353 may result in price moving towards the 2018 low at $3122. Latest Bitcoin News:

Bitcoin [BTC] Price Action: Lower High Forms for Bitcoin

January Marks Another Month of Price Declines for Bitcoin as the Crypto Winter Continues

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin Price: Doji Candle Forming for BTC Today was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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candle doji bitcoin forming price 3476 btc

Источник: blokt.com

candle doji → Результатов: 36


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