Bitcoin and Crypto Currency Technical Levels: 2nd August 2019

By: Admin
32047

Insignia Consultants

New Delhi

Friday, August 2, 2019

TIME: 9:23 am IST                  

DAILY CRYPTO CURRENCY REPORT

Negative interest rates and negative bond yields is drawing more and more traders to crypto currencies. There are news that Chinese are using the bitcoin and other forms of crypto currencies to send and receive money. Trump induced trade war will only increase the usage of crypto currencies. Chinese and American companies will be increasing their usage of crypto currencies to bypass Trump induced trade sanctions. Global trade war will only result in greater acceptability and greater usage of crypto currencies. Trend at the moment is bullish for all crypto currencies.

Crypto Currencies daily technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

10363.00

216.08

326.00

96.04

14076.00

S5

8664.30

184.43

263.57

45.06

12169.50

S4

9071.99

192.03

278.55

57.30

12627.06

S3

9513.65

200.26

294.79

70.55

13122.75

S2

9714.10

203.99

302.15

76.57

13347.72

S1

9962.11

208.61

311.27

84.01

13626.07

 

 

 

 

 

 

R1

10763.89

223.55

340.73

108.07

14525.93

R2

11011.90

228.17

349.85

115.51

14804.28

R3

11212.35

231.91

357.22

121.53

15029.25

R4

11654.01

240.13

373.45

134.78

15524.94

R5

12061.70

247.73

388.43

147.02

15982.50

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  50 day moving average at $10572 is the key short term resistance.
  2. ETH/USD:  It needs to trade over $217 till Sunday to rise to $277.90. Watch $217 all the time. Eth/usd can move $15-$20 either side anytime from $217.
  3. BCH/USD:  It needs to trade over $313.10 to rise to $346.20. Sell off will be there below $313.10.
  4. LTC/USD:  100 day moving average at $103.50 is the key long term resistance.
  5. BTC/SGD:  50 day moving average at $14494 is the key resistance.

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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