Bitcoin and Crypto Currency Technical Report:2nd February 2020

By: Admin
242829

Insignia Consultants

New Delhi

Sunday, February 2, 2020

TIME: 3:15 pm IST                  

BITCOIN AND CRYPTO CURRENCY REPORT

Spread of corona virus should result in more adoption of bitcoin and all crypto currencies. Trend at the moment is very bullish. Be ready for another twenty percent one way price moves in February in all crypto currencies. I am bullish. Please do not confuse digital currencies which almost all central banks intend to launch with crypto currencies. Launch of digital currencies will only accelerate the pace of rise of bitcoin and other crypto currencies. A lot of crypto trading platform and crypto currencies are backed by gold. Postitves outstrip negatives in all crypto currencies by a big margin.

Crypto Currencies 14 day technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

$9,396.20

$188.66

$380.35

$70.87

$12,763.80

S5

$7,797.90

$126.42

$239.53

$33.95

$11,005.80

S4

$8,181.49

$141.36

$273.33

$42.81

$11,427.72

S3

$8,597.05

$157.54

$309.94

$52.41

$11,884.80

S2

$8,785.65

$164.88

$326.56

$56.77

$12,092.24

S1

$9,019.00

$173.97

$347.12

$62.16

$12,348.91

 

 

 

 

 

 

R1

$9,773.40

$203.35

$413.58

$79.58

$13,178.69

R2

$10,006.75

$212.44

$434.14

$84.97

$13,435.36

R3

$10,195.35

$219.78

$450.76

$89.33

$13,642.80

R4

$10,610.91

$235.96

$487.37

$98.93

$14,099.88

R5

$10,994.50

$250.90

$521.17

$107.79

$14,521.80

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  (a) Key resistance is at $9622. Bitcoin needs to break and trade over $9622 to rise to $10464.10 and $10986. (b) 200 day moving average around $8900 is the key support. Crash will be there only below $8900.
  2. ETH/USD:  (a) Key resistance is at $199. ETH needs to break and trade over $199 to rise to $216 and $240. (b) 200 day moving average around $174 is the key support. Crash will be there only below $174.
  3. BCH/USD:  (a) It can rise to $427 and $460 as long as it trades over $352. (b) Crash or sell will be there if bch/usd trads below $352.
  4. LTC/USD: (a) It needs to trade over $61.60 to rise to $91.30 and $107. (b) Crash or sell off will be there only if ltc/usd trades below $61.60.
  5. BTC/SGD: (a) Btc/sgd can rise to $13765 and $14601 as long as it trades over $12230. (b) Crash or sell off will be there below $12230.

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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