• Find out why Bitcoin is more a buy than a sell?

The price of Bitcoin is trading at 37,588 level, right below the 38,000 psychological level which stands as important static resistance. The bulls have taken the lead again pushing the rate higher after the most recent temporary drop.

BTC/USD has escaped from a short-term down channel signaling further growth. Actually, the continuation pattern indicates that the price could pass above the 41,986 all-time high.

BTC/USD In The Buyers Territory!

analytics601d13b4c7f32.jpg

Coming back above the median line (ML) brings more bullish energy and attracts many more buyers hoping that Bitcoin will advance towards new historical highs. BTC/USD has escaped from the minor descending channel confirming that the corrective phase is over.

The R1 (38,141) represents strong static resistance, upside obstacle. So, jumping and closing above it and registering a new higher high is seen as a bullish signal. A valid breakout through this level indicates significant upwards movement ahead.

The upper median line (UML) could attract the price soon after its failure to stay under the median line (ML). A larger growth far above 41,986 historical high will be indicated by a breakout above the UML and through the R2 (43,172).

Bitcoin Trading Tips!

Jumping and closing above 38,876 yesterday’s high represents a long opportunity, signal, with an immediate target at 41,986 high. Passing above it suggests a larger growth ahead in the short to the medium term.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.