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
Log in using Google
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

25.10.201907:54 Technical analysis of BTC/USD for 25/10/2019

Crypto Industry News:

Kryptoin Investment Advisors based in Delaware has applied to the American Securities and Exchange Commission (SEC) for the launch of a Bitcoin ETF.

According to the filing document published by the SEC, Bitcoin ETF Trust is to be traded on the Arca New York Stock Exchange. This product has been designed to:

"[...] provide Bitcoin exposure at a price that reflects the actual Bitcoin market, where investors can buy and sell Bitcoins, fewer expenses related to Trust," we read.

The company plans to hold Bitcoin and value trust shares in accordance with the Chicago Mercantile Exchange Bitcoin reference rate. The cryptocurrency will be kept by an indefinite insured trustee, who is also regulated by the Investment Advisors Act of 1940.

The SEC documentation also states that Trust will store Bitcoins "to ensure that the Trust stock price reflects the actual Bitcoin market." However, the Trust will not buy or sell Bitcoins directly, but will instead purchase them through actions called "baskets".

Another noteworthy detail is that the head of the Crypto-listed product is Jason Toussaint, former managing director of the World Gold Council and former asset manager of SPDR Gold Shares, one of the largest gold ETFs in the world.

Meanwhile, the race to launch the first regulated Bitcoin ETF is becoming more and more competitive. Earlier this month, documents revealed that the Wilshire Phoenix Fund had updated its own Bitcoin ETF offer to the SEC. Also this month, Bitwise's asset manager with NYSE Arca confirmed his intention to re-apply for an ETF after the last rejection by the SEC.

Technical Market Overview:

The BTC/USD pair is testing the technical resistance located at the level of $7,464 after the sudden drop towards the level of $7,232. The bounce from that level is shallow and clearly corrective in nature, so the short-term downtrend might resume soon again. Nevertheless, in the case of a breakout higher, the next target for bulls is seen at the level of $7,672, which was the previous low of the wave (A).

Weekly Pivot Points:

WR3 - $9,074

WR2 - $8,707

WR1 - $8,444

Weekly Pivot - $8,103

WS1 - $7,849

WS2 - $7,474

WS3 - $7,245

Trading Recommendations:

Due to the short-term impulsive scenario invalidation, the best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.

Exchange Rates 25.10.2019 analysis

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

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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
Close
Widget calback
Our specialist
will call you back
in five minutes
We will navigate you
through the website and
answer all your questions!
Preferred Type of Connection
Preferred language
  • English
  • Русский
  • العربية
  • Bahasa Indonesia
  • Bahasa Melayu
  • বাংলা
  • Български
  • 中文
  • Español
  • हिन्दी
  • Asụsụ Igbo
  • Português
  • اردو
  • ไทย
  • Українська
  • Tiếng Việt
  • Èdè Yorùbá
A call-back request was accepted.
Our specialists will contact you as soon as possible.
An error occurred.
Please try again later.
Can't speak right now?
Ask your question in the chat.