In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 8th session.
Bitcoin/USD — As you can see on the daily chart, we have rallied a bit, broken above the $16,000 level. The $17,000 level being tested now and a break above there, sends this market towards $19,000, possibly even $20,000 level. It does not take a lot of imagination to put a bullish flag on the chart, but at this point, it is a buy on the dip scenario.
Bitcoin/JPY — Bitcoin against the yen has done even better, as it typically does. The 40% of bitcoin trading comes out of Japan. The 2.0 million yen level here being tested. A break above there, sends this market to 2.25 million. Pullbacks should be buying opportunities. I have no interest in shorting until we break down below the 1.5 million yen.
© Prabhu for Forex Videos, 2018. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: Bitcoin, Forex video
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.
