The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $6.990. Over the past few months, there has been an ongoing theoretical and ideological debate concerning the difference between mining nodes and non-mining nodes, and whether or not one set of nodes is more important than the other. The ongoing argument between BCH proponents and BTC supporters often leads to the node debate as to which group of nodes is stronger. The dispute has even led some BTC luminaries to state that users who don’t run a fully validating node are merely ‘second-class citizens’ in the land of cryptocurrency. The technical picture on Bitcoin looks neutral to bearish.
Trading recommendations:
According to the H1 time – frame, I found intraday bearish flag in creation, which is sign that sellers are in control. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of $6.943 and at the price of $6.572.
Support/Resistance
$7.137 – Intraday resistance
$6.983– Intraday support
$6.943 – Objective target 1
$6.572 – 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
The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $6.990. Over the past few months, there has been an ongoing theoretical and ideological debate concerning the difference between mining nodes and non-mining nodes, and whether or not one set of nodes is more important than the other. The ongoing argument between BCH proponents and BTC supporters often leads to the node debate as to which group of nodes is stronger. The dispute has even led some BTC luminaries to state that users who don’t run a fully validating node are merely ‘second-class citizens’ in the land of cryptocurrency. The technical picture on Bitcoin looks neutral to bearish.
Trading recommendations:
According to the H1 time – frame, I found intraday bearish flag in creation, which is sign that sellers are in control. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of $6.943 and at the price of $6.572.
Support/Resistance
$7.137 – Intraday resistance
$6.983– Intraday support
$6.943 – Objective target 1
$6.572 – 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
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