Bitcoin and Crypto Currency Technical Levels: 5th August 2019

By: Admin
30343

Insignia Consultants

New Delhi

Monday, August 5, 2019

TIME: 9:33 am IST                  

DAILY CRYPTO CURRENCY REPORT

Technical picture is very bullish for btc/usd and btc/usd. The pace fo rise is much greater than the pace of fall for most crypto currencies. Volatility upto a certain levels is needed to attract new traders and investors. Crypto currencies have the right volatility and trend at the moment to attract new investors. Sinking of global bond yields should be positive for all bitcoin and others.

Crypto Currencies daily technical levels

 

btc/usd

eth/usd

bch/usd

ltc/usd

btc/sgd

CMP

11595.00

229.97

345.65

95.26

16049.00

S5

9067.30

197.00

278.74

44.28

12589.70

S4

9673.95

204.91

294.80

56.52

13419.93

S3

10331.15

213.49

312.20

69.77

14319.35

S2

10629.42

217.38

320.09

75.79

14727.55

S1

10998.46

222.19

329.86

83.23

15232.61

 

 

 

 

 

 

R1

12191.54

237.75

361.44

107.29

16865.39

R2

12560.58

242.56

371.21

114.73

17370.45

R3

12858.85

246.46

379.11

120.75

17778.65

R4

13516.05

255.03

396.50

134.00

18678.07

R5

14122.70

262.94

412.56

146.24

19508.30

 

CMP= Current price market price

ABOVE TECHNICALS ARE ONLY FOR REFERENCE

 

  1. BTC/USD:  It can rise to 13170 in the short term as long as it trades over 10600.
  2. ETH/USD:  It needs to break and trade over $243 to rise to $197.80.
  3. BCH/USD:  It can rise to $379 and $428 as long as it trades over $317. One needs to trade very carefully in bch/usd as it is lagging behind it peers in rise.
  4. LTC/USD:  100 day moving average at $104.10 is the key long term resistance. I am against new long positions unless ltc/usd breaks and trades over $104.10. Short term avoid.
  5. BTC/SGD:  It can rise to $17946 in the short term as long as it trades over $15300.

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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