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Saturday, February 2, 2019

Bitcoin Price Analysis 2/2/19 February 2, 2019

February 2, 2019 - Below is Bitcoin Price and Technical Analysis for 2/2/19.  Current Bitcoin Price = $3426

The long term trend still appears to be down but if you look at the weekly chart, the 10 week moving average is now close to the current price again so I believe a big move is around the corner.  The million dollar question is Up or Down?

Bitcoin is now in its longest bear market in history but that doesn't surprise me given the massive rally to $20,000 that we saw a year ago.  The good news is that the price of Bitcoin has bounced off the long term trend line twice now.  This to me shows the bulls have been accumulating and short sellers are starting to take profits.  Keep an eye on the important Bitcoin levels to watch below.

Long Term Bitcoin Price Trend line - $3298 - Has been holding for months
Long Term 10 Week Moving Average - $3626
Last Major High for Bitcoin - $4193
Bitcoin 200 Day Moving Average - $5534
Long Term 50 Week Moving Average - $6547

We saw several bear market rallies last year but the last major one during the summer failed at the Long Term 50 Week Moving Average.  See the chart below.

If you want to buy Bitcoin in stock form, Buy GBTC or these Bitcoin Stocks.

Stocks to Buy 2019

Stocks to Buy 2019 - The following list of stocks to buy in 2019 are the stocks I trade and own personally.  These are great long term stocks that should be bought on every major correction.

Top Stocks to Buy 2019

Small Caps Bull 3x (TNA) - I personally own TNA and buy shares on every major correction for at least a trade.  The Christmas crash has come and gone and TNA has rallied from $35 to almost $58 per share.  TNA gives you 3x the percentage gain of the Russell 2000 in an ETF form.

TNA is the stock market on steroids and I plan to sell this $57 stock at $100 in 2019/2020.  All major dips are a strong buy because I feel the market will break out to new highs this year.  Also check out UDOW and SPXL.

Tesla (TSLA) - Tesla (TSLA) is another stock to buy in 2019 and I currently own shares of this company right now.  Tesla (TSLA) has traded in a range from roughly $270-$370 over the past two years and I strongly believe 2019 is the year we see a break out.  Tesla is now focused on earnings big quarterly profits so my 2019/2020 price target is $425-$450.

Grayscale Bitcoin Trust (GBTC) - Bitcoin was a bubble and that bubble has now popped which is why I like GBTC.  Unless a Bitcoin ETF is approved in 2019, GBTC is the only way to buy Bitcoin in stock form.  There is a slight premium but GBTC is a great way to diversify between actual Bitcoin and a fund that owns Bitcoin for you.  I believe Bitcoin will eventually break though 20,000 per coin so this stock will be a 10 bagger at some point in the future.  Check out more Bitcoin Stocks.

For More Stocks to Buy, check out these articles - Top Stocks 2019 - Penny Stocks 2019 - Marijuana Stocks - Daily Stock Gainers

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