For Traders

Analytical Reviews

Crypto-currencies

27.12.201917:48 Forex Analysis & Reviews: BTC 12.27.2019 - Downward target reached at $7.075, watch for downside opportunities at $7.270

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 has been trading downward and reached my yesterday's target at the price of $7.075. I still expect more downside on the BTC but is good to wait for potential test of multi Fibonacci resistance at $7.270 to place sell order.

The target is set again at $7.067...

Stochastic oscillator is looking overbought but you should watch for fresh new bear cross before the next sell position.

Yellow rectangle – Important Fibonacci confluence and supply trendline

Watch for selling opportunities on the rallies...

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