Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Bitcoin managed to regain momentum after a certain throwback towards $7,500 area recently. The price is currently residing at the edge of $8,000 and after certain corrections along the way, the price is expected to resume a rise in the coming days.

BTC failed to break the resistance at $8,300 after several attempts, so it started a move downwards that looked convincing. It reached an intraday low of just over $7,500 before turning around and marching back upwards. The crypto market dumped around $15 billion as a result. It appears to have settled back in the channel and may well remain there for a few more days. Many traders and investors are still waiting for this to occur as prices have been surging upwards without any significant retreat since early February. Last Friday's flash crash knocked just 15 percent of bitcoin price, so a larger correction is still expected.

Overall, the crypto market has rebounded as another correction gets recovered. The big dip from yesterday was expected to accelerate today and throughout the weekend, but bitcoin and its brethren appear to have settled at higher levels of support and have managed to reach the resistance area of $8000 area again. So far, the total market capitalization has been back over $240 billion as a result.

As of the current scenario, the price is showing certain bearish pressure off the $8,000 area while forming the Bearish Continuous Divergence along the way. It indicates certain retrace towards the dynamic level of 20 EMA i.e. at $7,800 area. If the price shows any further evidence of bullish momentum off the rejection to the dynamic level of 20 EMA, i.e. $7,800 area, the price will possibly break above $8,000 and shoot for the $8,300 resistance area again in the coming days. As the price remains above $7,500 area with a daily close, the impulsive bullish pressure is expected to continue.

SUPPORT: 7,500, 7,800

RESISTANCE: 8,000, 8,300

BIAS: BULLISH

MOMENTUM: VOLATILE

Exchange Rates 24.05.2019 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Rocky Yaman,
Analytical expert
InstaForex Group © 2007-2019
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade