Bitcoin price analysis 8 February 2019

Bitcoin price analysis 8 February 2019

Could we be witnessing the beginning of the market turn around? You never know with these markets though… Tread carefully here and remember the extreme volatility that we are dealing with in these markets.

We’ve seen some interesting activity the past two days. Last night we saw a dip setting a new 24H low of $3373.10, and through the night we saw an extremely bullish pump, setting a new bitcoin price high of $3512.80 on Binance. Volume has surged this morning and we are currently looking at a retracement from that $3500 test so far for this morning. We are looking over-bought on the RSI on the shorter time frames. 30M-2H pushed well above the 70 level, with the 4H & 6H pushing to the 70 level.

We still have extremely tight lines on the MACD on the daily. We are currently looking bullish for the time being.

Don’t let your emotions take over!

In fact as I am writing this we are seeing another high so far for the day to $3733.58! This is a strong push here guys. Technichal analysis went out the window this morning. A lot of times on moves like these the emotions kick in, the FOMO aka “Fear of Missing Out”. You must remain in control, and not let the hype get you. Let the market settle down a bit to make a better educated guess on what’s happening. Could we be witnessing the beginning of the market turn around? You never know with these markets though… Tread carefully here and remember the extreme volatility that we are dealing with in these markets.

Today’s bitcoin price charts

Here we’re looking at the 30M, 1H & 6H 02/08/19 BTC  / bitcoin price charts at 06:41, 06:53, 06:55, 06:57, 07:48, 08:35, 08:55, 08:56, and 09:00 AM PST, using MACD, MA, RSI, and Stochastic RSI Indicators:

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Price analysis provided by Alt Trading Systems. Connect with the author on LinkedIn.

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