empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

30.12.201918:24 Forex Analysis & Reviews: BTC 12.30.2019 - Is this end of the upward correction ? Watch for selling opportunities

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Industry news:

After the DApp browser MetaMask got removed from the Google Play Store, Apple followed suit and is forcing crypto exchange Coinbase to remove the DApp browser feature from its iOS app. While many saw this as blatant censorship and a danger to the crypto industry, it goes to show that the DApp market has gotten so big, it's putting both Google and Apple at risk.

Technical analysis:

Exchange Rates 30.12.2019 analysis

Bitcoin has been trading inside of the consolidation at the price of $7.217 and potential for the further downside movement. I do see potential completion of the upward correction ABC (running flat), which is a sign that selling is in play... Watch for selling opportunities and target at the price of $6.455.

MACD oscillator is showing neutral stance and contraction, which is sign that there is the big move that is coming and potential expansion period.

Yellow rectangles – Current trading range

Resistance levels are seen at the price of $7.400 and $7.700

Support levels are set at the price of $7.030 and at the price of $6.455

Petar Jacimovic
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off