FX.co ★ Bitcoin analysis for January 22, 2019

Trading recommendations:

BTC failed to reach the Pitchfork median line, which is a sign that sellers are loosing power and the demand may increase. There is also a breakout of the Pitchfork diagonal (resistance) which is another confirmation of strength. The key support at the price of $3,420 held successfully and I expect further bullish movement. Stochastic is in oversold zone, which confirms potential upward movement. I am bullish as long as there is support at $3,420.

Trading advice: We are bullish on BTC from $3,540 with the targets at $3.742 and $4,086. The protective stop is placed below $3,420.

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