Bitcoin short-term analysis: decline continues

Today, Bitcoin consolidates Sunday losses. The BTC / USD pair is trading at $ 3,594, which is 1.82% lower than the previous day. Cryptocurrency lost about 15% from a peak of $ 4,110, which was reached on January 7th.

Leading cryptoinvestors and opinion leaders continue their attempts to predict the future of Bitcoin and predict the further movement of its price. Recall that the founder of Morgan Creek Digital Assets, Anthony Pompiano, also known as "Pump," believes that Bitcoin is close to its bottom, because the bears have exhausted their potential, and the chance for an impressive recovery in 2019 is very low. In other words, Pompiano expects BTC / USD to trade in the range of $ 2,500 to $ 4,450 for most of 2019.

At the moment, the BTC / USD pair should recover above the resistance of $ 3,700 protected by SMA200 (4 hours). As soon as this obstacle is removed, the growth potential can be expanded towards more serious resistance – $ 3,800 created by the merger of SMA100 and SMA50 (4 hours). This separates the BTC from the critical level of $ 4,000.

On the other hand, the initial support is created at $ 3,500. If the sale picks up speed, the price will go down to $ 3,435, which is the lowest level since December 18th. The critical level for BTC is $ 3,200.

And what do you think about this? Leave your comments!