empty
 
 
15.06.2018 08:11 AM
BTC/USD Testing Resistance, Prepare For Reversal!

Reason for the trading strategy (fundamentally):

Bitcoin's latest crash may be over after the value of the cryptocurrency stabilized Thursday. The plunge began Sunday, with several factors possibly feeding into it, including a cyberheist that hit South Korea's Coinrail cryptocurrency exchange—even though no bitcoins were stolen—and a U.S. regulatory probe into Bitcoin price manipulation. Bitcoin's price fell from more than $7,600 on Sunday to little over $6,100 on Wednesday, marking a four-month low for a virtual currency that has already fallen precipitously from its almost-$20,000 high last December. The cryptocurrency-whisperers over at Coindesk reckon that, even if there is a brief rally now, the market remains bearish and Bitcoin may still fall below $6,000. That last happened back in February.

Reason for the trading strategy (technically):

BTCUSD is testing its resistance at 6638 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect the price to reverse, causing price to fall to its support at 6256 (horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 89% where a corresponding reversal is expected.

Buy above 6638. Stop loss at 6883. Take profit at 6246.

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback