Bitcoin analysis for July 16, 2018
July 16, 2018 10:21 amVideo
Latest News
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- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
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- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
Trading recommendations:
Recently, Bitcoin has been trading upwards. As I expected, the price tested the level of $6.493. According to the H1 time – frame, I found a successful rejection of an upward trendline (support), which is a sign that buyers are in control. I also found a hidden bullish divergence in the background, which is a sign that sellers lost the power. My advice is to watch for potential buying opportunities on the dips. The upward target is set at the price of $6.748.
$6.748 – Intraday resistance; $6.300 – Intraday support; $6.748 – Objective target;
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The material has been provided by InstaForex Company – www.instaforex.com
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