For Traders

Analytical Reviews

Crypto-currencies

22.04.202013:35 Forex Analysis & Reviews: BTC analysis for 04.22.2020 - Resistance at the price of $7.000 is on the test. Watch for potential downside rotation

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.

Corona virus summary:

Trump lays out parts of US immigration ban

60-day ban on immigrants

Technical analysis:

BTC has been trading upwards. The price tested the level of $6,960. In my opinion BTC is at the important resistance trend-line and that sellers opportunities are preferable. I see potential for the further drop towards the levels at $6,550 and $6,465.

Watch for selling opportunities using the intraday frames 15/30 minutes for better entry. Any downside rotation or bearish divergence in the momentum may be the good trigger for the downside.

Support level is set at the price of $6,750.

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