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...
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...
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...
Regardless it rebounced from 6.000 level and regained 2500 in value, Bitcoin showed many sign of weakness so far, on the first place after rebouncing from 9300 back to 11,700 none of the candles weren't closed near that price (prices were closed at 11.000 level, that means he can not pressure that price range trying to form his price on higher level, because, on...
BTCUSD is back to testing our major resistance at 8057 (shorter term descending resistance, horizontal pullback resistance, Fibonacci retracement) and a reaction could occur from this level to drive prices down to 5763 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a long term descending resistance line hold price down really well and...
Sell below 7993. Stop loss at 8885. Take profit at 5758. Reason for the trading strategy (fundamentally): There has been some positive news lately surrounding cryptocurrency, with the latest being Singapore Deputy PM and chairman of Monetary Authority of Singapore (MAS) saying that cryptocurrency and related trading activity currently do not pose any threat to...
BTCUSD is now testing multiple resistances (long term pullback to descending support-turned-resistance level, shorter term descending resistance, horizontal pullback resistance, Fibonacci retracement) and a reaction could occur from this level to drive prices down to 5763 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a long term...
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...
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...
Bitcoin is now testing major support at 8108 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing low support) and a potential bounce could occur at this level to drive price up to at least 11822 (Fibonacci extension, Fibonacci r etracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 7.7% where a...
Buy above 8098. Stop loss at 7161. Take profit at 9923. Reason for the trading strategy (fundamentally): The big news surrounding cryptocurrencies would be Bank of America and JP Morgan Chase banning customers from purchasing bitcoin with their credit cards. This was largely due to the concerns about the credit risk of those who make such purchases. Adding on,...