FX.co ★ Bitcoin analysis for February 06, 2019

Bitcoin is trading downwards and the price tested the level of $3.398. I have found a breakout of the bearish flag pattern, which exactly what I expected to happen. The breakout confirmed the downward continuation and the down trend resumed. Pay attention to the level $3.387, since it is the short-term support. The level of $3.484 is current resistance.

Trading recommendation: We are bearish on BTC from $3.440. Profit is set at $3.168 and protective stop at $3.490.