FX.co ★ Bitcoin analysis for February 22, 2019

BTC is trading at the price of $4.005 and in the trading range between the $4.074 (resistance) and the $3.881 (support). After the upward spike in the background, we found no follow through, which is the big warning for the buyers. The trend is still bullish but with the big potential weakness in the background.

Trading recommendation: We are neutral on the BTC but we got 2 potential scenarios.

Scenario 1: BTC is going to break the resistance at $4.074 and potentially test $4.196

Scenario 2: BTC is going to break support at $3.881 and potentially test $3.763