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Bitcoin Daily Price Analysis (6th February, 2019)

Analysis

Bitcoin is still slowly consolidating within a corrective wave B/2, but we see it now in the final stages of an a-b-c correction that can be finishing an ending diagonal in wave “c”, so don’t fall in love with the bears just yet. That said, be aware of a potential bounce, ideally here around 78,6% Fibonacci retracement and $3400-$3300 support area. However, it could get even more complex and sideways, so as long as the price keeps trading above $3120 invalidation area, BTCUSD may turn back into a bullish mode and unfold wave C/3.

 

Bitcoin Daily Price Analysis (6th February, 2019)
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