empty
 
 
03.06.2020 02:21 PM
BTC analysis for June 03,.2020 - Massive drop on the BTC as I expected. Watch for selling opportunities on the rallies with main target at $8.865

Corona virus summary:

This image is no longer relevant

Quick Take

  • China's chip-making giant SMIC, which recently partnered with bitcoin miner maker Canaan, has filed for $2.8 billion IPO
  • SMIC's IPO filing comes amid rising trade tensions between China and the U.S., which have affected the largest chipmaker TSMC – Bitmain's major chip supplier
  • Crypto mining expert Kristy-Leigh Minehan expects SMIC's IPO to "succeed with flying colors" because China needs a next-generation fabrication facility that can serve foreign markets

Technical analysis:

Trading recommendation:

Watch for selling opportunities on the rallies using the intraday frames 5/15 minutes for better entry location.

The downside target is set at $8,685

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