FX.co ★ Bitcoin analysis for November 16, 2018

Trading recommendations:

According to the H1 time - frame, I found that BTC is in consolidation phase after the strong drop in the background, which is normal activity after such a strong drop1. I dont see any signs of reversal yet and my advice is to watch for selling opportunities. I have also found potential end of the upward correction (rrunning flat), which is another sign of weakness. Downward take profit level is set at the price of $5.161.

Support/Resistance

$5.692 – Intraday resistance

$5.377– Intraday support

$5.161 – Objective target

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