BTC

Remain hovering without clear direction

Avatar newsbtc 1 year ago

Highlights:

Price remains hovering without clear direction.

BTC:

Resistance: $12,200 & $13,000, support: $11,300 & $10,800.

Data feed from AICoin

Comments:

The correction represented by the short lower shadow this morning is basically within our expectation. This time, though the rally has continued for a little longer and BTC is away from the bottom, the lack of support from volumes makes it difficult for BTC to effectively remain above MA 20. Even though price still holds a chance to move upwards, breaking above the resistance at $13,000 remains difficult in the short term.

Suggestions:

Futures traders can try to play the segment between the support at $11,300 on MA 7 and the resistance at $12,200 on MA 20. Heavy positions are not recommended and positions can be reduced when price gets closer to either side. Stop loses when price breaks below $10,800.

BCH/USD:

Resistance: $1,800, support: $1,570 & $1,420.

Data feed from AICoin

Comments:

Further operations can be implemented after BCH stabilizes in price move.

Suggestions:

Hold on to your bullets.

ETH/USD:

Resistance: $1,280, support: $1,150 & $1,100.

Data feed from AICoin

Comments:

Price move reflects trend, which can be proved by the surge of ETH out of rigid demand yesterday. After reaching to the resistance as expected, price started a small-range correction and moved back to the 23.6% retracement level ($1,192.3) from $983 to $1,256.9. ETH still holds a chance to break upwards if BTC stabilizes its price move and tests upwards.

Suggestions:

Segment can also be played, but light positions are recommended.

ETC/USD:

Resistance: $32.5 & $34, support: $31.

Data feed from AICoin

Comments:

Following ETH, ETC also earned some gains yesterday. As price remains fluctuant, profits can be booked if there’re no cheap entry point.

Suggestions:

If you had bought ETC at a low level in advance, profits can be booked at high levels.

 

Original by Jerry Cheung from Hashpai, translated by AICoin Jami.

Disclaimer: The information contained herein is not guaranteed, and is strictly for information purposes only. It does not constitute any trading proposal and will not be liable for any loss based on the information herein.

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