In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 19th session.
Bitcon/USD — As you can see, bitcoin has tried to rally, but turned around and it looks like a failed attempt. So, it looks likely that the lack of volume is going to continue to affect this market. With $12,000 level offering resistance, suggests that we are probably going to bounce around between $12,000 and $10,000. If we break down below $10,000 again, we look out below.
BItcoin/JPY — The Bitcoin/Yen market did very much the same thing. The 1.5 million level needs to be broken to the upside for me to be convinced. If we break down below 1 million, it is a market that is probably going to come undone rather rapidly. Currently, I think that we are probably going to tread water, but as I record this, Asia has not come on yet. So, the next 24 hours are going to be crucial. Quite frankly, I will stay away from this market.
© Prabhu for Forex Videos, 2018. |
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