empty
 
 
30.06.2020 03:14 AM
Trading plan for Bitcoin for June 30, 2020

This image is no longer relevant

Technical outlook:

Bitcoin had rallied through 10400/500 levels earlier, almost taking out initial resistance at 10500 as shown on the daily chart here. Since then the crypto has been drifting sideways and it is seen to be trading around 9160 levels at this point in writing. The recent boundary which is being worked upon is between 3850 and 10500 respectively. Immediate resistance is seen around 10500, while strong support remains around 3850 level respectively. Ideally, Bitcoin should produce a counter trend drop towards 6300 levels, which is very close to Fibonacci 0.618 retracement of the previous rally. A bullish reaction could be expected around 6300/6400 levels and Bitcoin could resume its rally towards 13800. It is recommended to open short deals with risk at 10500 level and then turn bullish again at lower levels.

Trading plan:

Remain short, Stop @ 10500, target @ 6300/6400. Then turn bullish again.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Oscar Ton
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 February 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
  • 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