For Traders

Analytical Reviews

Crypto-currencies

02.07.202013:36 Forex Analysis & Reviews: BTC analysis for July 02,.2020 - Bigger downside move is expected towards the level of $8.666

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:

China's local governments must increase testing capacity to prepare for potential outbreaks. Local institutions should ramp up and reserve coronavirus testing capacity in preparation for increased demand amid potential outbreaks, Reuters reports citing national health authorities.

Technical analysis:

Trading recommendation:

Watch for potential sellingopportunities due to completion of the mini abc upward correction and potential for bearish flag pattern breakout.

The downward targets are set at the price of $8,900 and $8,666

Stochastic oscillator is showing the overbought condition and fresh bear cross, which is another confirmation for our short bias..

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