Bitcoin: general analysis
04 January 2018, 10:54
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 14800.00 |
| Take Profit | 13750.00 |
| Stop Loss | 15100.00 |
| Key Levels | 12500.00, 13750.00, 15000.00, 16250.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 15200.00 |
| Take Profit | 16250.00 |
| Stop Loss | 14850.00 |
| Key Levels | 12500.00, 13750.00, 15000.00, 16250.00 |
Current trend
Yesterday Bitcoin went down by 0.20% and is now trading around the level of 14700.00.
After a number of attempts to consolidate above the level of 15000.00 (Murray [4/8]), the price entered the downward correction. If the current trend maintains, the correction can develop to the levels of 13750.00 (Murray [3/8]), 12500.00 (Murray [2/8]).
From the fundamental point of view, Bitcoin is negatively affected by the head of Austria CB and ECB governing council member Ewald Nowotny commentaries upon the necessity of crypto exchanges regulations and implementation a tax on the cryptocurrencies operations.
Support and resistance
Technical indicators reflect the formation of the downward correction of the price. MACD volumes went down in the positive zone. Stochastic is pointed downwards. Bollinger Bands are pointed sideways, reflecting the moderate developing of the current downward trend.
Resistance levels: 15000.00, 16250.00.
Support levels: 13750.00, 12500.00.
Trading tips
Short positions can be opened below the level of 14900.00 with the target at around 13750.00 and stop loss 15100.00.
Long positions can be opened above the level of 15100.00 with the target at around 16250.00 and stop loss 14850.00.
Yesterday Bitcoin went down by 0.20% and is now trading around the level of 14700.00.
After a number of attempts to consolidate above the level of 15000.00 (Murray [4/8]), the price entered the downward correction. If the current trend maintains, the correction can develop to the levels of 13750.00 (Murray [3/8]), 12500.00 (Murray [2/8]).
From the fundamental point of view, Bitcoin is negatively affected by the head of Austria CB and ECB governing council member Ewald Nowotny commentaries upon the necessity of crypto exchanges regulations and implementation a tax on the cryptocurrencies operations.
Support and resistance
Technical indicators reflect the formation of the downward correction of the price. MACD volumes went down in the positive zone. Stochastic is pointed downwards. Bollinger Bands are pointed sideways, reflecting the moderate developing of the current downward trend.
Resistance levels: 15000.00, 16250.00.
Support levels: 13750.00, 12500.00.
Trading tips
Short positions can be opened below the level of 14900.00 with the target at around 13750.00 and stop loss 15100.00.
Long positions can be opened above the level of 15100.00 with the target at around 16250.00 and stop loss 14850.00.
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