Insignia Consultants | Bitcoin (BTC/USD) February 2022 Monthly View

Bitcoin (BTC/USD) February 2022 Monthly View

Insignia Consultants

                                                                                   New Delhi

Sunday, January 30, 2022  TIME 3:15 PM IST                       

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Bitcoin-US Dollar (BTC/USD) FEBRUARY 2022 View  (current price: $37983.00)

Trader sentiment is very bearish for bitcoins. 100 day moving average: $51363, 200 day moving average: $48855.80 50 week ma: $31911.10

Support: $28426, $31911, $30673 & $33454 Resistances: $42443, $45224, $47472 and $52500

Short term View:

1. Btc/sgd needs to trade over fifty weem moving average of $31911.10 till end March to rise to $569954.
2. A daily close below $31911 for three consecutive days will result in $28426, $3397 and $18903.

The next three weeks is a very crucial continuance of the medium-term bullish trend. If bitcoin does not fall below $31000 in the next three weeks, then a medium-term bottom will be formed with $73958 as price target. Short-term traders need to remain on the sidelines.

Disclaimer: The above is just a technical view. The above is not an investment advise. Crypto currencies are not yet legal in India. Crypto currencies are very high risk investment class. 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. Prepared by Chintan Karnani

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.

Insignia Consultants does not have any branches in India.

Insignia Consultants does not have any marketing agents in any city in India.

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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