Bitcoin is supported by $31.5k

Bitcoin needs to break above $32k to keep the bullish trend and building up strength.

Once we break and settle above $32k , we will have that area act as a very strong support for any future downward correction.

Target levels will be the area between 34.6k to 35.9k

Dont forget to join my weekly crypto newsletter where I deliver weekly trading recommendations , entry and exit points and much more from crypto world.

Comments

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

How Can you trade bitcoin and etherum

The market of crypto currencies will takeover the market of fiat currency "FX market" sooner or later. There are over 750digital currency and most of them are trading actively everyday. The market is very volatile compared to forex markets and that is a good reason for you not to use leverage . Using leverage or margin trading is the main reason for accounts liquidation. So , you can satisfy your greed for making large profits in short time by trading digital currencies without using leverage or margin trading. For one instant , Etherum made 100% profit during the last 10 days. it is not the only case here , we have siacoin, bytecoin , digibyte and many more doubled their price over just few hours and it is not a rare case. Markets move very vast and there is a big room for trading opportunities. There are many reputable and trusted crypto exchanges that you can use to start trading ; bitfinex , bittrex , poloniex , cex.io , coinbase and many more. For reference on the...

Only charts

Search This Blog