Bitcoin and Crypto Currency Report: 11th December 2019

By: Admin
12497

Insignia Consultants

New Delhi

Wednesday, December 11, 2019

TIME: 10:19 am IST                

BITCOIN AND CRYPTO CURRENCY REPORT

It is has been nearly a month since I prepared the last crypto currency report. They have crashed and recovered also. I am very bullish on crypto currencies for next year and onwards (2020, 2021 and continuous years). The reason (a) Global politics is changing, A political front away from United Nations (UN) and NATO will be formed where the medium of exchange will not the US dollar. Digital currency and crypto currency will be part of the so called new future new global political block. (b) Global acceptance of any new investment instrument takes time. For example. In India’s first commodity exchange MCX was started in October 2003 and it took over three years to get accepted by the masses. The same is happening with crypto traders. So nothing to worry. Trading volumes will rise next year and so will the prices. Bitcoin will not fall to $1000 (against the US dollar) over the coming years. (c) USA presidential elections and the political filth which comes along with it will result in more and more people joining the bitcoin or crypto currency community.

Right now and till early January news will be the key. Trend and momentum is down for almost all crypto currencies.

Crypto Currencies daily technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

$7,242.60

$146.18

$206.20

$43.93

$9,927.80

S5

$5,787.20

$137.87

$128.67

$20.50

$8,091.20

S4

$6,136.50

$139.86

$147.28

$26.12

$8,531.98

S3

$6,514.90

$142.03

$167.44

$32.22

$9,009.50

S2

$6,686.64

$143.01

$176.58

$34.98

$9,226.22

S1

$6,899.13

$144.22

$187.90

$38.40

$9,494.36

 

 

 

 

 

 

R1

$7,586.07

$148.14

$224.50

$49.46

$10,361.24

R2

$7,798.56

$149.35

$235.82

$52.88

$10,629.38

R3

$7,970.30

$150.34

$244.97

$55.65

$10,846.10

R4

$8,348.70

$152.50

$265.12

$61.74

$11,323.62

R5

$8,698.00

$154.49

$283.73

$67.36

$11,764.40

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  (a) Trend is down as long as btc/usd trades below $7390.40 with $6438 as price target. (b) In the long term btc/usd needs to trade over $6000 to be in bullish zone. (c) Only a break of $7390.40 will result in $8238.80.
  2. ETH/USD:  (a) It needs to trade over 149.40 to rise to $168.90 and $179.10. (b) Crash will be 139.10 to $133.60. (c) Key long term support is at $125.89.
  3. BCH/USD:  (a) It needs to trade over $211.80 to rise to $246.70 and more. (b) Crash will be there only below $192.20 to $166.70 and more.
  4. LTC/USD: (a) It needs to trade over $45.90 to rise to $53.40 and $74.10. (b) Key long term support is at $30.60.
  5. BTC/SGD: (a) Btc/sgd is the only crpto currency which I will prefer to trade and invest at current times. (b) Key resistance is at $10125.30. Btc/sgd needs to break and trade over $10125.30 to rise to $11273.80. (b) Sellers will be there below $9795. (c) Key long term support is between $8050-$8350.

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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