In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 23rd session.
Bitcoin/USD — As you can see, it is rather a negative day. The volume is to the downside, we are dropping here against the US dollar, I think somewhere around 10,000. At this point, any rally I think is going to be sold off closer to the $12,000 level. I am not interested in buying until we get above $13,000.
Bitcoin/JPY — A particular damage is the fact that we are losing to the Japanese yen again. The country of Japan and Asia in general is well over 40% bitcoin trading. So, if we don’t get any type of rally here, then we don’t go higher longer term. The 1.1 million level is the initial target. I think 1 million level gets tested and probably it could take couple of attempts to break down through there. But right now, I would not bet against it.
© Prabhu for Forex Videos, 2018. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: Bitcoin, Cryptocurrency, technical analysis
Feed enhanced by Better Feed from Ozh
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
