Bitcoin

Bitcoin: technical analysis

Current trend, Bitcoin quotes are trading below the center line of Bollinger Bands at the level of 3750.00 (Murrey [0/8]).At the level of 3750.00 there is a rather strong support level, from which a rebound is possible and a return to the level of 3906.25 (Murrey [1/8]).

If sellers manage to consolidate the rate below the level of 3750.00, the decline will continue to the area of 3593.75 (Murrey [–1/8]). Technical indicators show that moderate downtrend is preserved. Stochastic lines are directed downwards. Bollinger Bands demonstrate convergence, confirming the current trend towards a moderate decrease. MACD volumes are insignificant and move along the zero line, indicating relative calm in the market and a sideways trading trend.

Support and resistance

Resistance levels: 3906.25, 4062.50, 4218.75.

Support levels: 3750.00, 3593.75, 3437.50.

60cdf86deec78d434608a8f5b8b47f37.png

Trading tips

Short positions may be opened below 3750.00 with target at 3593.75 and stop loss at 3780.00.

Long positions may be opened above the level of 3906.25 with target at 4062.50 and stop loss at 3865.00.

Implementation time: 3-5 days.

 

Scenario

Timeframe Weekly
Recommendation SELL STOP
Entry Point 3740.00
Take Profit 3593.75
Stop Loss 3780.00
Key Levels 3437.50, 3593.75, 3750.00, 3906.25, 4062.50, 4218.75

 

Alternative scenario

 

Recommendation BUY STOP
Entry Point 3910.00
Take Profit 4062.50
Stop Loss 3865.00
Key Levels 3437.50, 3593.75, 3750.00, 3906.25, 4062.50, 4218.75

Add comment

Security code
Refresh

Bitcoin (USD) Price

Форекс онлайн

Subscription

Forex Forecast

© 2014-2018 ForexCrypto.top, Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexCrypto.top is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. Only the NFA regulated brokers featured on this site are available to U.S. customers. Forex

Search