Bitcoin and Crypto Currency Technical levels: 7th November 2019

By: Admin
4877

Insignia Consultants

New Delhi

Thursday, November 7, 2019

TIME: 10:36 am IST                

DAILY CRYPTO CURRENCY REPORT

Focus will be on China on its development of digital currency using block chain technology. China is trying to use block chain technology for everything. Competition among central banks will rise drastically if China introduces digital currencies quickly. Last week, once again, there was default in some bitcoin in Canada. Investment interest is very less in bitcoin and crypto currencies. I hear voices that value of bitcoin will be zero. Bitcoin is not shitcoin. Btc/sgd is a much better to trade and invest than btc/usd. Value of bitcoin will not be zero. Only state regulation will increase in future. Right now I prefer gold and silver investing for very short term over btc/usd.

Crypto Currencies daily technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

$9,294.40

$188.98

$296.87

$62.76

$12,778.90

S5

$7,014.10

$144.38

$198.27

$29.77

$11,237.30

S4

$7,561.37

$155.08

$221.93

$37.69

$11,607.28

S3

$8,154.25

$166.68

$247.57

$46.27

$12,008.10

S2

$8,423.33

$171.94

$259.20

$50.16

$12,190.01

S1

$8,756.25

$178.45

$273.60

$54.97

$12,415.08

 

 

 

 

 

 

R1

$9,832.55

$199.51

$320.14

$70.55

$13,142.72

R2

$10,165.47

$206.02

$334.54

$75.36

$13,367.79

R3

$10,434.55

$211.28

$346.17

$79.26

$13,549.70

R4

$11,027.43

$222.88

$371.81

$87.83

$13,950.52

R5

$11,574.70

$233.58

$395.47

$95.75

$14,320.50

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  200 day moving average at $9200 is the key support. Sell off will be there below $9200 to $8680.80 and below. Watch $9200 all the time.
  2. ETH/USD:  100 day moving average around $188.40 is the key support or key price to watch. Eth/usd needs to trade over $188.40 to rise to 214.50. Sell off will be there if $188.40 does not hold.
  3. BCH/USD:  100 day moving average at $279.60 is the key support. Bch/usd needs to trade over $279.60 to rise to $323.40 and $356. Sell off will be there below $279.60 to $247.80 and below.
  4. LTC/USD: 100 day moving average at $67.40 is the key support. Ltc/usd needs to break and trade over $67.40 to be in bullish zone. Key support is at $58.20. Sell off will be there below $58.20.
  5. BTC/SGD: 200 day moving average at $12665.40 is the key support. Crash will be there below $12665.40 to $11989.60. Free will be there below $11989.60.

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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