BTC/USD Analysis: Risk for pullback now that key resistance zone tested [Video]

LMAX Group Research Desk LMAX Group

The market has enjoyed a nice run since breaking out above a consolidation between Q4 2018 and Q1 2019. But the rally has now extended back into a formidable previous support zone around 6,000 from back in 2018, and this in conjunction with some extended readings, warns additional upside could be limited from here, with risk for a resumption of a medium term downtrend. Ultimately, it will take a break back above the July 2018 high around 8,500 to trigger a meaningful bullish structural shift.

In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.

The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.

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LMAX Group Research Desk

LMAX Group

LMAX Group is a dynamic, visionary and award-winning financial technology company.

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