Bitcoin analysis for 23/11/2017
November 23, 2017 11:22 amVideo
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- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
According to Wall Street Journal, JP Morgan Chase is considering launching its Chicago Mercantile Exchange (CME) futures platform on Bitcoins. This statement was issued last week and raised the Bitcoin price to a record high of over $ 8,300. According to the report: ” J. P. Morgan wonders whether through its futures brokerage unit will provide its customers with access to the new Bitcoin CME product.”
The irony of this statement is, of course, that Jamie Dimon was the most bitter critic of Bitcoin on Wall Street, calling him a scam and saying that anyone investing in him is stupid. Dimon also said he would release anyone who would buy Bitcoin. The highly negative tendencies of some Wall Street professionals were mostly caused by the positive views of others. But regardless of whether Dimon actually extends its services or not, Bitcoin-based futures are likely to become a reality at the beginning of December, meaning a significant acceleration of their adaptation.
Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The price is still hovering around the recent high at the level of $8,365, but the upward momentum is clearly diminishing. If the dashed black trend line is violated, the price might quickly drop towards the nearest technical support at the level of $7.886. In a case of an extended correction, the next important technical support is seen at the level of $7,432. The overall uptrend is mature and correction might occur any time now.
The material has been provided by InstaForex Company – www.instaforex.com
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