empty
 
 
23.04.2018 11:10 AM
Bitcoin analysis for April 23, 2018

This image is no longer relevant

The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $8.982 and reached first objective target. The current president and chief executive officer of the San Francisco Federal Reserve Bank, and the man expected to soon be the New York Federal Reserve Bank, John Williams, has rejected the suggestion that cryptocurrencies comprise currency. The technical picture looks bullish.

Trading recommendations:

According to the H4 time – frame, I found that price reached first objective target (resistance) at the level of $8.970. Anyway, watch for potential breakout of resistance to confirm further upward continuation. The upward targets are set at the price of $9.805 and final target at the price of $11.600.

Support/Resistance

$8.970 – Intraday resistance

$8.724– Intraday support

$9.805– Objective target 1

$11.600 – 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 $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

Recommended Stories

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