Bitcoin analysis for January 02, 2018 888011000 110888 Bitcoin (BTC)has been trading sideways at the rate of$13.772. President Vladimir Putin has reportedly commissioned Russian officials to work on establishing a national cryptocurrency called the”cryptorouble”. According to the Financial Times, Sergei Glazev, a financial adviser to the president, informed a federal government conference that the cryptocurrency would serve as a”helpful tool” to avert western financial sanctions. The technical picture looks bearish.Trading suggestions: Inning accordance with the 1H time -frame, I found a broken pennant formation in the background, which is an indication that purchasing looks risky. I also found a series of lower lows and lower high, which is a sign that on the brief– term prospect sellers are in control. My recommendations is to watch for possible selling opportunities. The downwardtargets are set at the cost of$12.035 and at the cost of$11.206. Support/Resistance$14.149– Intraday resistance(price action)$12.870– Intraday assistance $12.035– First objective target$11.206– Second unbiased target With InstaForex you can earnon cryptocurrency’s movements right now. Simply open an offer in your MetaTrader4.The material has actually been supplied by InstaForex Company-www.instaforex.com

By | January 2, 2018

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