For Traders

Analytical Reviews

Crypto-currencies

26.03.202015:27 Forex Analysis & Reviews: BTC analysis for 03.26.2020 - I expect further drop on BTC towards the levels at $4.400 and $3.800. Watch for potential breakout of bearish flag pattern for the confirmation...

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 news:

Bitcoin (BTC) has fallen 4% in the past 24 hours, but its losses may be down to an old culprit which has already sparked market volatility and selling pressure.According to data from online monitoring resource Skew, March 27 will see the expiry of Bitcoin options open interest worth 49,400 BTC ($328 million).

Technical analysis:

BTC has been trading sideways at the price of $6.620. I expect further drop on BTC towards the levels at $4.412 and $3.800.

Watch for selling opportunities in case of the breakout of the bearish flag pattern. The breakout of the $6.440 to the downside would confirm further bearish continuation.Downward targets are set at the price of $4.412 and $3.800

MACD oscillator is showing slow upside momentum and the slow line turned to the downside, which is sign of the potential downside continuation.

Resistance levels are set at the price of $7.000 and $7.250.

Intraday support level is set at the price of $6.440.

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