empty
 
 
13.12.2019 04:41 PM
BTC 12.13.2019 - Watch for new down cycle and breakout of the bear flag pattern

Industry news:

On-Demand Liquidity (ODL), Ripple's XRP payment solution used by "more than two dozen" of the firm's customers, reportedly helps save up to 80% in remittance fees, according to money transfer firm SendFriend.

Ripple revealed David Lighton, co-founder and CEO of SendFriend, touted ODL as a solution that helps its own customers save while speaking at a conference this week. The CEO explained that Ripple's XRP solution removed the need for businesses to pre-fund their accounts in destination currencies, removing the need for a large amount of working capital.

Technical analysis:

This image is no longer relevant

BTC is still trading in consolidation phase at the price of $7.250 Anyway, there is chance for further downside and I expect down cycle with potential for test of $6.857 and $6.545. I also found, the potential bear flag pattern in creation.

MACD oscillator is showing neutral condition with the slow line below the zero.

Resistance levels are seen at $7.282 and $7.620.

Support levels are set at the price of $6.857 and $6.543

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