Bitcoin and Crypto Currency Technical levels: 21st October 2019

By: Admin
8367

Insignia Consultants

New Delhi

Monday, October 21, 2019

TIME: 11:50 am IST                

DAILY CRYPTO CURRENCY REPORT

It has been nearly three weeks, that I have prepared the crypto currency report. One thing is for sure, facebook’s Libra will come in the markets much sooner than most of us expect. Do not write Libra off in your mind. Chinese government is making every effort to ensure that its own digital coin offering is traded or released much before Libra. The knee jerk reaction of opposing Libra (by almost every politician in the world) has been now toned down. Even certain European central bank officials admit that “Libra” will be allowed in Eurozone with some regulations. Regulation are needed. Hongkong is being wrecked apart mainly due to the support of crypto/bitcoin transactions. (Yeah, I am a big supporter of the Chinese government in Hongkong. NATO should not dig into internal activities of nations. Media never reports opoid crisis in USA and developed nations. Media does not tell you the real reason for extremely high suicide rates in USA. Media does not tell you why American pharma companies loot the world. So why should NATO intervene in day to day activities of every nation.). A global child porn ring was recently caught in South Korea. This child porn ring accepted payment in crypto currencies in the dark web. I believe that Pakistan is using crypto currencies for terrorism activities in India and Afghanistan. Regulation of crypto currencies are needed. But taxes on sale, purchase and genuine usage are not acceptable.

The pain in crypto currencies can last from thirty days to two hundred days. 2020 should the year when crypto currencies resurge. However days of whambam profit are over in crypto currencies.

Crypto Currencies daily technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

$8,278.00

$175.04

$224.94

$54.43

$11,305.10

S5

$5,926.00

$163.18

$192.70

$31.48

$9,866.00

S4

$6,490.48

$166.03

$200.44

$36.99

$10,211.38

S3

$7,102.00

$169.11

$208.82

$42.96

$10,585.55

S2

$7,379.54

$170.51

$212.62

$45.66

$10,755.36

S1

$7,722.93

$172.24

$217.33

$49.01

$10,965.47

 

 

 

 

 

 

R1

$8,833.07

$177.84

$232.55

$59.85

$11,644.73

R2

$9,176.46

$179.57

$237.26

$63.20

$11,854.84

R3

$9,454.00

$180.97

$241.06

$65.91

$12,024.65

R4

$10,065.52

$184.05

$249.44

$71.87

$12,398.82

R5

$10,630.00

$186.90

$257.18

$77.38

$12,744.20

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  100% retracement is at $7711.10. As long as bitcoin trades over $7711.10, it can get a pullback rally to $10105 and more. Immediate resistance is around $8879. (200 day moving average.) Massive sell off will be there below $7711.10.
  2. ETH/USD:  It needs to trade over $165 this week to rise to $194.40. Crash of sell off will be there below $165.
  3. BCH/USD:  200 day moving average at $213.60 is the key support. Bch/usd needs to trade over $213.60 to rise to $240 and $258. Sell off will be there below $213.60.
  4. LTC/USD: Looks bearish and can fall to $44.40 as long as it trades below $62.30.
  5. BTC/SGD: 100% retracement is around $10102. Another wave of sell off will be there only below $10102. Btc/sgd needs to trade over $12219 to be in bullish zone.

Insignia Consultants and its team have not invested OR traded in crypto currencies as it is illegal to trade in India.

Before Investing or trading in crypto currencies: Crypto currencies are unregulated investment or unregulated trading instruments. Risks are the highest among all investment class.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals, crypto currencies and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani

Further disclaimer (read very carefully)

Trading of Bitcoins is illegal in my country India. The above report is not meant for resident Indians and Indian corporates. It is meant for traders or corporates in nations where bitcoin and other crypto currencies have got legal validity. Insignia Consultants and it employees are not responsible for illegal trading of crpto currencies and/or nations where crypto currencies do not have legal validity. Insignia Consultants does not advise on any investment strategy which is illegal nor does not it recommend people to trade in anything which is illegal to a nation. The above views are just technical views.

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES ARE IN US DOLLARS UNLESS OTHERWISE SPECIFIED

Indian Standard Time (IST): +5:30 GMT

Current Market Price (CMP)

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