empty
 
 
10.11.2017 03:41 PM
Bitcoin analysis for November 10, 2017

This image is no longer relevant

The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $6,708. While Wall Street heavies publically shamed bitcoin and its users, Citigroup is taking a more nuanced approach. In a wide-ranging interview at a futuristic conference in New York City, its CEO describes in detail how his firm, the fourth largest bank in the United States by total assets, just behind Wells Fargo, Bank of America, and JP Morgan Chase, will confront the world's most popular cryptocurrency, bitcoin. The technical picture looks bearish.

Trading recommendations:

According to the 4H time frame, I found a bearish engulfing candle formation in the background, which is a sign that buying looks risky. I also found a broken upward trendline, which is another sign of weakness. My advice is to watch for potential selling opportunties. The first downward target is set at the price of $6.060.

Support/Resistance

$7.332 – Intraday resistance (price action)

$7.878 – Major resistance

$6.060 – Downward target

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada Oktober kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback