After the 40% drop in BitCoins, what's its next move?
BitCoins 4.50% made a dramatic move to the downside on 22 December 2017.
Investors like you may be wondering whether the price of BitCoins 4.50% ( BTCUSD 4.50% ) would continue to go down in the following week I am sure. From a technical outlook, BTCUSD 4.50% has been oversold and the move is too dramatic. So, there is indeed a possibility that the price will make a rebound from the low of 22 December 2017.
Based on our forecast, we are currently watching the price action at $15,400 and see whether the sell-off pressure will resume. If BTCUSD 4.50% can surpass $15,400, the next level we are watching closely is $16,400, followed by $17,800. We will provide a further update on this in our next forecasting report.
Good trading
NinjaTrader Singapore
23 December 2017
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance 0.82% on the information in our research materials.
Investors like you may be wondering whether the price of BitCoins 4.50% ( BTCUSD 4.50% ) would continue to go down in the following week I am sure. From a technical outlook, BTCUSD 4.50% has been oversold and the move is too dramatic. So, there is indeed a possibility that the price will make a rebound from the low of 22 December 2017.
Based on our forecast, we are currently watching the price action at $15,400 and see whether the sell-off pressure will resume. If BTCUSD 4.50% can surpass $15,400, the next level we are watching closely is $16,400, followed by $17,800. We will provide a further update on this in our next forecasting report.
Good trading
NinjaTrader Singapore
23 December 2017
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance 0.82% on the information in our research materials.
Trade active:
We are re-establishing our targets 1 and 2 to the downside at $10950 and $8580.
We are re-establishing our targets 1 and 2 to the downside at $10950 and $8580.
Trade active:
Despite what happened on 25 December, BTCUSD is moving back to the upside and our first level of target (15400) has been hit today (26 December). We are now watching the reaction of BTCUSD at this level and see if our second level of target to the upside (16400) will be hit. Update again.
Trade closed: target reached:
Target 2 of $16400 was achieved on 26 Dec 2017. This case study is now closed and thank you all for following.