For Traders

Analytical Reviews

Crypto-currencies

28.11.201714:55 Forex Analysis & Reviews: Bitcoin analysis for November 28, 2017

Long-term review

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.

Bitcoin (BTC) has been trading upwards. The price tested the level of $9.900. The Nigerian Deposit Insurance Corporation (NDIC) has warned Nigerians that they will not be afforded consumer protections when trading virtual currencies. NDIC representatives also reaffirmed that the Nigeria's monetary regulators are unable to exert influence over the cryptocurrency markets. Technical picutre looks bullish.

Trading recommendations:

According to the 30M time frame, I found broken pivot reistance 1 ($9.828), which is a sign that buyers are in control. I also found a rising trendline and successful rejection, which is another sign of strength. My advice is to watch for potential buying opportunities. The intraday upward target is set at the price of $10 035.

Support/Resistance

$9.503 – Intraday pivot

$9.828 – Pivot resistance 1

$10 035 – Pivot resistance 2

$10 360 – Pivot resistance 3

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

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