16.05.201909:36 Forex Analysis & Reviews: Bitcoin. The number of bitcoin-related search queries continues to grow

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.

The Bitcoin rate continues to "lick" the level of 8000 USD. In the meantime, the number of Bitcoin-related search queries continues to grow. This is indicated by the report of the analytical service Google Trends. Recently, after a sharp rise in the rate of Bitcoin, the number of search queries related to Bitcoin has increased significantly, making it more attractive for investment.

Signal to buy Bitcoin (BTC):

Bitcoin continues to trade in the area of 8000 USD, retaining its upward potential. The next target for buyers will be the breakdown of the maximum of 8160, which was not possible yesterday. Only after that, you can count on updating the levels of 8450 and 8700, where I recommend fixing the profits. With the downward correction scenario, the area will be supported by 7600, however, it is possible to buy Bitcoin immediately to rebound around 7200.

Signal to sell Bitcoin (BTC):

Only the repeated formation of a false breakdown at a maximum of 8160 will be the first signal for the sale of Bitcoin in order to reduce to the lower border of 7600 and update the larger support area of 7200, where I recommend fixing the profits. With further growth in the trend, it is best to consider selling a rebound from a maximum of 8500.

Back to the list

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