Bitcoin (BTC/USD) strongly supported at the 9400 area

Bitcoin (BTC/USD) strongly supported at the 9400 area

The Bitcoin maintains its bullish tone intact from the day of February 26 after having found strong support at the Fibonacci level of 38.2%. The current price remains above the moving averages of 200 and 50 hours in the H1 chart, which helps to support the price action of the aforementioned cryptocurrency.

According to the latest news about the ICOs, the financial regulatory entity of Japan could be considering the creation of a regulatory framework that allows monitoring the companies that are raising funds through the initial coin offerings.

The Parabolic SAR is providing support to the BTC/USD pair, which helps the bullish tone to remain dominant, in addition to the RSI moving in positive territory after having left the overbought area in which it was inserted during the 27th of February's session.

What do we expect?

According to our forecasts in the H1 chart, Bitcoin aims to continue with the upward path in the short term, considering that the level of 9407 remains intact. The 200-hour moving average is waiting for a bullish cross to occur in order to allow more profits. The target remains fixed at the Fibonacci level of -23.6% at 12985, while on the bearish path we can find a demand zone at the Fibonacci level of 50% at 8724.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera