Bitcoin and Ethereum Updated Trading View (nearing 50 day MA)

By: Admin
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Insignia Consultants

                                                                                   New Delhi

Wednesday, November 17, 2021 TIME 11:50 AM IST                       

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Bitcoin and Ethereum Updated Trading View (nearing 50 day MA)

BTC/USD: (current price: $59335.90):

  1. Support: $59117.00
  2. Resistances: $63055 and $69286
  3. Short term View: Fifty day moving average at $59117 is the key support. Bitcoin has to trade over $59117 to rise to $64150 and $70236. (a) For a bearish trend btc/usd has needs a daily close below $59117 for five consecutive trading sessions. A sustained fall below $59117 will result in $52892 and $45940.

ETH/USD: (current price: $4146.90):

  1. Support: $3897.60, $4032.10
  2. Resistances: $4577.40
  3. Intraday View: Etherum has to trade over fifty day moving average of $4032 to be in a short term bullish zone and rise to $4577, $4960 and $5500. (a) To be in a short term bearish zone eth/usd needs a daily close below $3897 for five consecutive trading sessions. A sustained fall below $3897 will pave the way for $3663 and $3111. All price crashes upto $3100 will be a part and parcel of the medium term bullish zone.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals 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. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Prepared by Chintan Karnani Website www.insigniaconsultants.in   

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.

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