Wednesday, September 18, 2019

Technical Analysis Update: Long BTCUSD

This is an update to an earlier trading calling for BTCUSD $13,500 but saw some major signs of rejection at the high so wimpled out.

After the price took a tumble, we may have found support here at what was gained from the previous leg up.

Entered a small long position at $11,253, looking for a test of what was lost from the highs.

Is the price doesn’t get repelled from the highs too aggressively, that should be a sign of bullish momentum giving us a chance to push higher towards $12,000 and then $13,500 with a final target (not anytime soon) of $16,500.

The initial reason for entering back long is due to the support at the immediate left (shown in the image below). This is the level which was gained to give the recent high. Failing this, will bring BTCUSD to the start of the leg ($11,234) where we wouldn’t be very likely to see a high is we can’t hold. Losing that level would open up the move to drop towards $10,300’s.

This trade has continually been updated on Trading View:
https://www.tradingview.com/chart/BTCUSD/ouGN10pV-Bitcoin-Rally/



Bitcoin Rally by BTCNN on TradingView.com

More Articles

Blockchain And How It Influences Global Businesses

Blockchain technology has exploded rapidly since Bitcoin became its first major successful use case, and it has continued to grow stronger and more dynamic...

Is Bitcoin Losing Its Bling, Or Has It Been...

Two years ago, when cryptocurrencies were still in its infant states and bitcoin reigned supreme, we would have never envisioned that other coins could...

Winklevoss’ Twins Gemini Keeps Evolving: Includes Litecoin In Its...

The Winklevoss Twins have been for a wild ride in the world of cryptocurrency. After being awarded a large sum of money due to...

Do You Have to Pay Tax on Bitcoins?

Do you have to pay tax on Bitcoins? If you're in the U.S., then that's an outright yes or else you may...

Electrum, Famous Bitcoin Wallet Hit by DoS Attack

An attacker was able to gain access to the Electrum wallet servers, and as such, redirected people to a server where a...

Coinbase’s Head of Policy Leaves for a Venture Capital...

In what could be described as an surprising turn of event; Michael Lempres, Coinbase's former head of policy, has joined a venture capital firm,...

2,700 Nationals to Face Danish Tax Authorities

The tax agency in Denmark, Skattestyrelsen (SKAT), have increased disciplinary actions towards citizens who transacted with Bitcoin through the use of a crypto exchange...

Chance Du, Who Struggled Financially In China Transitions Into...

From a background synonymous with miserable financial life, Chance Du rose from her pitiable condition to an admirable status through cryptocurrency investment. Chance Du Odyssey...

Regulatory Bodies to Become More Involved in the Crypto...

The cryptocurrency industry is still bounded by a loose legal framework, and a recent meeting by key players at New York law firm Sullivan...

10-Year-Old Launches Platform to Teach Kids Blockchain Technology

NEM's recent report reveals that Kaede Takenaka, a 10-year-old girl is developing a platform that will teach kids Blockchain technology and fiscal management. The...

NVIDIA CEO Jensen Huang Talks Cryptos: Not Our Core...

Jensen Huang, the founder, president, and CEO of Nvidia talked yesterday with Jim Cramer, the host of CNBC's program Mad Money about the history...

Former CEO of PayPal, Bill Harris: “Bitcoin Is A...

Bill Harris, former and founder CEO of PayPal, surely feels no love about bitcoin at all. Yesterday, he published an article on Recode where...

Latest Articles

HMRC demands info on traders from crypto exchanges in...

Sygnum Becomes World’s First Licenced and Regulated Digital Asset...

Swiss-based Sygnum, a digital asset investment and solutions provider, has become one of the world's first licensed and regulated digital asset banks after receiving...

The Easiest Way to Pass Your Microsoft MCSA MD-100:...

If you try to think of things that don't use Information Technology in one way or another, it would be a very tough task....

Are Worries Over AI’s Effect on the Financial Jobs...

A recent study by Fountech has revealed that two-thirds of adults living in the UK are concerned that the Artificial Intelligence industry will leave...

Will Cryptocurrency Gambling Kill Land-Based Casinos?

It’s hard to deny that the internet has radically changed the gambling landscape. Sure, the common perception of gambling may still involve the glitz...

Why Some Financial Bubbles Are Necessary Economic Disasters

The history of the worldwide economy is punctuated by financial bubbles. They happen more often than we think.  Fortunly’s infographic below provides a comprehensive...

Microsoft 70-411 Exam: Everything You Need to Know

We can’t deny the fact that the world is moving towards the future faster than ever before. Not a day goes by that we...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...