empty
 
 
22.01.2018 10:46 AM
Bitcoin analysis for January 22, 2018

This image is no longer relevant

The Bitcoin (BTC) has been trading sideways at the price of $11.675. The South Korean government has announced that six major banks will be ready to provide services to cryptocurrency exchanges this month. Under the new system, the government requires exchanges to share user data with banks. The technical picture is neutral to bearish.

Trading recommendations:

According to the 30M time - frame, I found bearish pennant in the creation and my advice is to watch for potential selling opportunities if you see a valid breakout of support. The downward targets are set at the price of $10.480 and at the price of $9.249.00.

Support/Resistance

$11.841 – Intraday resistance

$11.325– Intraday support

$10.479 – Objective target 1

$9.249 – Objective target 2

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

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $1000 more!
    In April we raffle $1000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback