For Traders

Analytical Reviews

Crypto-currencies

16.07.201916:16 Forex Analysis & Reviews: BTC 07.16.2019 - Brerakout of the flag and downside momentum

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:

Stablecoin issuer Tether accidentally created $5 billion-worth of its USDT stablecoin at the weekend, before promptly destroying them again.

The mess-up occurred when the company was helping cryptocurrency exchange Poloniex conduct a chain swap, moving tethers from the Omni to the Tron blockchains, according to Tether CTO Paolo Ardoino.

Technical view:

BTC broke a nice bearish flag pattern in the background based on the 1H time-frame. The trend is bearish and the market is making lower highs and lower lows. Important resistance level is found at the price of $11.000. I also found the breakout of the lower Bollinger band, which is sign that there is volatility breakdown. Watch for selling opportunities on the rallies. The downward targets are set at the price of $9.643 and at the price of $9.023.$

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