Price Commentary - Bitcoin - 7th March 2019

Commentary by Jackson Zeng, COO Caleb & Brown

Bitcoin: USD $3,882��(07��Mar 2019 3:53 pm)There has been little activity with the Bitcoin price this week. It remained fairly stable along the 50-Day exponential moving average��(EMA) and is holding as a support for now.

The price closed at $3700 below the EMA on 4th March before a prompt bounce and holding the price above $3800. This hints toward a strengthening in the support levels.The relative strength index (RSI) is starting to climb again this week, sitting at 60 currently. Over the next two weeks we will paying close attention to the sell side volume.This is especially important given we�۪re looking to retest the short term $4000 ceiling levels, as a rapid retracement again could signal weakness in this short-term trend and the greater mid-term trend.Buy Bitcoin and 100s of other cryptocurrencies with Caleb and BrownWhether you are new to the market, or a seasoned trader, Caleb & Brown can help to realise your goals. Call us on +61��1800 849 149�� or Contact Us to discuss further.

connect with us
The information herein is not intended as legal, financial or investment advice and should not be construed or relied on as such. No material contained herein should be construed or relied upon as providing recommendations in relation to any legal or financial product. This email contains confidential information intended only for the person named above and may be subject to legal privilege. If you are not the intended recipient, any disclosure, copying or use of this information is prohibited and you must destroy the original transmission and its contents. Caleb and Brown provides no guarantee that this communication is free of virus or that it has not been intercepted or interfered with. If you have received this email in error or have any other concerns regarding its transmission, please notify [email protected] Any views expressed within this communication are those of the individual sender. This communication should not be copied or disseminated without permission.s The information you provide will not be given to any third parties. If you need to request changes to any information you have provided, please contact us. The information will not be given to third parties unless we are compelled by law. Any personal information in this document must be handled in accordance with the Privacy Act 1988 (Cth).