Forex Analysis & Reviews: Bitcoin. 9 800 it is! We are waiting for 10,000 and a downward correction
time 21.06.2019 09:14 AM
time Relevance up to, 22.06.2019 09:06 AM

The exchange rate of bitcoin quite expectedly continued its growth and updated the resistance of 9,800. Only the level of 10,000 USD is ahead. After the test of which, there will be a large profit-taking. However, an update of a maximum of 10,000 USD will also indicate a gradual entry of large players into the market, which will retain the long-term upward potential.

Bitcoin (BTC) buy signal:

Buyers will probably try to break through above $ 9,800 today and get to the psychological level of 10,084, where I recommend taking profits. An unsuccessful breakdown of 9,800 will also lead to a dramatic decrease in bitcoin. In such a scenario, it is best to consider buying on a false breakdown from 9,520, or to rebound from 9,250.

Bitcoin Sales Signal (BTC)

Bears will operate in the region of 9,800, and an unsuccessful breakdown of this range will provoke a sharp closure of long positions with a decrease in cryptocurrency in the area of the minimums of 5,520 and 9,250, where I recommend taking profits. With further growth above 9,800, the maximum resistance will be the highs of 10,084 and 10,330, from where you can try to sell Bitcoin to the rebound immediately.

This image is no longer relevant

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2022
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
  • 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.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday December 02, 2022.

If we look at the 4-hour chart, the Cardano cryptocurrency seems to be moving in a sideways condition and ranging in the range of the 0.29215 - 0.31257 level

Arief Makmur 05:28 2022-12-02 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Crypto Currency Friday, December 02 2022.

On the 4-hour chart, the Uniswap Crypto currency is clearly moving in a channel that is dip upwards, meaning that Buyers are taking control of this cryptocurrency, especially when

Arief Makmur 05:28 2022-12-02 UTC+2

Short-term technical analysis on Bitcoin for December 1st, 2022.

Bitcoin has started December trading on a positive note as price is starting to form higher highs and higher lows on an intraday level. Price has broken above the 23.6%

Alexandros Yfantis 14:25 2022-12-01 UTC+2

Mike Novogratz: Bitcoin will definitely recover.

It is also evident on the 4-hour TF that bitcoin has surpassed the crucial $ 18,500 and its "duplicate" of $17,582 and has since continued to trade below both levels

Paolo Greco 14:10 2022-12-01 UTC+2

Bitcoin breaks through the $17k level amid macroeconomic indicators: will the upward movement continue?

Bitcoin and the cryptocurrency market continue the recovery movement that originated in the current trading week. The main digital asset managed to make a bullish breakout of the $17k level

Artem Petrenko 11:30 2022-12-01 UTC+2

BTC update for December 01,.2022 - Potential for bigger rally

Technical analysis: BTC/USD has been trading upside as I expected and the price had nice fallow trough after the breakout of the supply trend-line. I see potential for further growth

Petar Jacimovic 08:57 2022-12-01 UTC+2

Technical Analysis of ETH/USD for December 1, 2022

Crypto Industry News: Alabama and several other US states are investigating several major crypto companies, including Genesis The investigation is allegedly into potential securities breaches and links with retail investors

Sebastian Seliga 08:44 2022-12-01 UTC+2

Technical Analysis of BTC/USD for December 1, 2022

Crypto Industry News: In light of the recent collapse of FTX and the liquidity scandal, regulators in the European Union have joined other global regulators in pushing for clearer guidelines

Sebastian Seliga 08:43 2022-12-01 UTC+2

Litecoin's bullish pattern violated, higher high needed

Litecoin jumped as much as 80.75 today where it has found resistance. It has retreated a little in the short term but the upside pressure remains high. The rate tries

Ralph Shedler 22:30 2022-11-30 UTC+2

Bitcoin rallies as expected

Bitcoin rallied in the short term after invalidating more declines. Now, it's trading at 16,871 below 17,072 today's high. You knew from my previous analysis that the BTC/USD could

Ralph Shedler 14:16 2022-11-30 UTC+2
Can't speak right now?
Ask your question in the chat.