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Bitcoin expect to technical reboundTechnical Report for short term Bitcoin (BTC) ~~ For short term Bitcoin, the general outlook is Bearish. This is because the current price is $3,890 that below 50-days Exponential Moving Averages (EMA). In addition, stochactic shows overbought hence support its bearishness. However, notice that there is a formation of potential bottom Head & Shoulder (HnS) that likelihood to technical rebound. If the price penetrates HnS neckline, aggresive traders can enter in buy position with technical price target is $5,268; conluence with Fibonacchi retracement 61.8%. If failed, traders are adviced to stay away as the price continue to decline and next support are $3,714, $3,284 and $2,545(Failed HnS technical target). Bukhari Razali Technical Analyst +6019-523 0131 #TecnicalReportCMB Disclaimer: Investments involve risks, including possible loss of principle and other losses. The author has positions in some of these instruments.The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.If investment and other professional advice are required, the services of a licensed professional person should be sought.
BITFINEX:BTCUSD
by CMBukhari
2
A trend continuation on the EurCadAfter a massive bull move pushing this pair up over 300 pips, we are finally getting a good retracement and potentially a place to get long. Price has retraced down into structure, the RSI has gone extremely over sold, and we also have the 78.6% Fibonacci level at the current price as well. If you are an aggressive trader then you could hop on right now and still get a good 2:1 risk to reward. If you are more conservative then you could look for a double bottom or a candle stick formation that signals a reversal on a lower time frame.
Long
by tpick74