Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good...
Intro: Bitcoin has broken its ascending support but requires one more major support to be broken to trigger a sell off. Sell below 10356. Stop loss at 11300. Take profit at 8909. Reason for the trading strategy (fundamentally): One of the latest news surrounding cryptocurrency is what Venezuelans are saying about their new national cryptocurrency, Petro. This...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding bitcoin involves Israel confirming it will tax bitcoin as a property, meaning that it is treated more as ‘a property, not a currency’, making it therefore taxable as such means profits from cryptocurrencies will be subject to...
Bitcoin has continued to rise nicely and we’re seeing an ascending support line hold up prices really well. Our 1st major support is at 10319 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to further push price up towards 12970 major resistance (Fibonacci retracement, horizontal overlap...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): Cryptocurrency has risen recently but recent news has poured some cold water on its recovery, especially White House cybersecurity coordinator and special assistant to the present, Rob Royce, saying that legislation around cryptocurrencies is unlikely to...
Bitcoin has shot up and reached our major resistance level at 9848 (near 10,000 psychological level, Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to 7938 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 92% where a...
Buy above 8975. Stop loss at 8181. Take profit at 10273. Reason for the trading strategy (fundamentally): There has been more positive news about Bitcoin recently with CFTC approving the creation of two subcommittees. One devoted to cryptocurrencies and the other on broader application of distributed ledgers in the finance space. There has also been strong...
Bitcoin has made a bullish exit from our long term descending resistance-turned-support line which is a strong signal that a rise could occur from here. Our first major support is at 8587 (breakout level) and our next major resistance is at 9848 (Fibonacci retracement, horizontal pullback resistance). Trading CFDs on margin carries high risk. Losses can exceed...
Buy above 8301. Stop loss at 7499. Take profit at 10273. Reason for the trading strategy (fundamentally): The most recent news surrounding Bitcoin revolves around Mario Draghi, president of the European Central Bank. He has once again stated that he doesn’t think cryptocurrency is a currency as while the euro’s value is stable, the value of a bitcoin oscillates...
Sell below 8321. Stop loss at 9805. Take profit at 5758. Reason for the trading strategy (fundamentally): There are mixed vibes going around the cryptocurrency market with JPMorgan reporting that one day cryptocurrencies could help investors diversity their equity and bond portfolios while on the other hand, cryptocurrency continues to be plagued with bad news...
Bitcoin is testing major resistance at 8587 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a drop from this level could occur pushing price down to 6064 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 9876 (Fibonacci retracement, horizontal pullback resistance). Trading CFDs on...
Sell below 8321. Stop loss at 9805. Take profit at 5758. Reason for the trading strategy (fundamentally): News have been slightly positive for Cryptocurrency lately with some encouragement received in the form of Nvidia CEO saying that cryptocurrency is ‘not going to go away’. Along with that, Arizona has cleared a bill that aims to allow residents in the state...
Sell below 8321. Stop loss at 9805. Take profit at 5758. Reason for the trading strategy (fundamentally): While there has been some good news with Canadian cryptocurrency exchange Coinsquare raising $30 million in new equity financing, there was also the flipside where Hong Kong-based cryptocurrency exchange Binance continues to halt trading and customer...
Sell below 7993. Stop loss at 8885. Take profit at 5758. Reason for the trading strategy (fundamentally): Bank for International Settlements (BIS) chief, Agustin Carstens, has blasted bitcoin as a ponzi scheme, an environmental disaster and a threat to central banks. He further blasted bitcoin by stating that cryptocurrencies fail to meet the basic textbook...
The first target is reached see the link below. Now it is expected to reach our next level of support which was resistance in the past if you look left. Someone wants to buy it for a cheaper price, it's a clear manipulation I think
Sell below 7993. Stop loss at 8885. Take profit at 5758. Reason for the trading strategy (fundamentally): Another big news in the cryptoworld is Lloyds Banking Group, which includes Lloyds Bank, Halifax, MBNA and Bank of Scotland, has barred customers from using credit cards to buy bitcoin and other cryptocurrencies. Its decision is over concerns that users may...