empty
 
 
23.01.2018 12:40 PM
Bitcoin analysis for January 23, 2018

This image is no longer relevant

Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $10.223. Hydro-Quebec, the largest state-owned utility in Canada, appears unable to meet the electricity demand from cryptocurrency miners seeking to establish operations in the energy-rich province. The announcement comes just weeks after the company sought to entice virtual currency miners as a means to bolster the province's economic outlook, claiming that it had 5,000 megawatts of power to spare. The technical picture looks bearish.

Trading recommendations:

According to the 1H time - frame, I found a broken bearish pennant pattern in the background, which is a sign that sellers are in control. I also found a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of $9.249 and at the price of $8.183.

Support/Resistance

$10.938 – Intraday resistance

$9.964– Intraday support

$9.249 – Objective target 1

$8.183 – Objective target 2

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback