Bitcoin analysis for May 04, 2018
May 4, 2018 11:21 amVideo
Latest News
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
- Trading plan for GBP/USD on May 2. Simple tips for beginners May 2, 2024
- Trading plan for EUR/USD on May 2. Simple tips for beginners May 2, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday May 02 2024. May 2, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 02 2024. May 2, 2024
- Forecast for EUR/USD on May 2, 2024 May 2, 2024
- Forecast for GBP/USD on May 2, 2024 May 2, 2024
- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
The Bitcoin (BTC) has been trading upwards.The price tested the level of $9.763. A digital asset smart banknote manufacturer has launched bitcoin banknotes at a store in Singapore. Designed to make owning and circulating cryptocurrencies as easy as using paper money, they are currently available in denominations of 0.01 and 0.05 BTC.Technical picture on Bitcoin looks bullish.
Trading recommendations:
According to the H1 time – frame, I found that the price did a successful breakout of bullish flag in the background, which is a sign that the downward correction has finished. I also found a potential smaller bullish flag in creation, which is a sign that buyers accumulate their long positions. My advice is to watch for potential bullsh breakout of flag to confirm further upward continuation. The major upward target is set at the price of $11.600.
Support/Resistance
$9.763 – Intraday resistance
$9.472– Intraday support
$11.600– Objective target
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: