Bitcoin analysis for February 08, 2018
February 8, 2018 12:21 pmVideo
Latest News
- Analysis of EUR/USD pair on May 23rd. Buyers make a second attempt to test the 1.0880 level May 23, 2024
- Analysis of GBP/USD pair on May 23rd. American reports saved the dollar May 23, 2024
- Forecast of EUR/USD pair on May 23, 2024 May 23, 2024
- Forecast of GBP/USD pair on May 23, 2024 May 23, 2024
- USD/JPY: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- GBP/USD: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- EUR/USD: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- GBP/USD: trading plan for the US session on May 23rd (analysis of morning deals). Buyers hit resistance at 1.2760 May 23, 2024
- EUR/USD: trading plan for the US session on May 23rd (analysis of morning deals). The euro rebounded from the 1.0819 level May 23, 2024
- Technical analysis – US 500 index slips after all-time high but holds within bullish area May 23, 2024
- Nvidia set to propel Wall Street to new highs but Fed uncertainty weighs – Stock Markets May 23, 2024
- Trading Signals for EUR/USD for May 23-25, 2024: buy above 1.0834 (200 EMA – rebound) May 23, 2024
- Trading Signals for SILVER (XAG/USD) for May 23-25, 2024: buy above 30.00 (200 EMA – rebound) May 23, 2024
- Forex forecast 05/23/2024: EUR/USD, GBP/USD, USDX, Oil and Bitcoin from Sebastian Seliga May 23, 2024
- Video market update for May 23, 2024 May 23, 2024
- USD/JPY: Simple trading tips for novice traders on May 23rd. Analysis of yesterday’s forex transactions May 23, 2024
- GBP/USD: Simple trading tips for novice traders on May 23rd. Analysis of yesterday’s forex transactions May 23, 2024
- EUR/USD: Simple trading tips for novice traders on May 23rd. Analysis of yesterday’s forex transactions May 23, 2024
- Technical Analysis – EURUSD recovers ground, remaining above downtrend line May 23, 2024
- Technical Analysis – EURGBP tests critical pivot area after slump May 23, 2024
The Bitcoin (BTC) has been trading sideways at the price of $8.430. Jobs and applicants for employment in the cryptocurrency sector have increased substantially in India, despite the current attitude in Delhi towards bitcoin. The significant growth has been registered in the second half of last year, a period of great uncertainty about the crypto future of the country. This month Indian government reaffirmed its commitment to eliminate illicit use of cryptocurrencies. New regulations are expected in March. Technical picturer is neutral to bearish.
Trading recommendations:
According to the 30M time – frame, I found broken bearish pennant in the background, whcih is a sign that buying looks risky. I also found a hidden bearish divergence on the mocing averrage oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities if you see the breakout of lower diagonal of new crreated upward trendline. Downward targets will be set at the price of $7.490 and at the price of $5.960.
Support/Resistance
$8.573 – Intraday resistance
$7.845– Intraday support
$7.502 – Objective target 1
$5.960 – Objective target 2
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: