Bitcoin Still To Rise | 24 November 2017

Bitcoin Trade Signal

Bitcoin Still To Rise

Technical Observation:

As I said on last week's analysis, Bitcoin gaped to the lower side,  but ended up closing of the other week's highest high 7867.6. I recommended buy this cryptocurrency last week after a retracement, and as it appeared, bitcoin retraced slightly lower before picking a momentum to the upperside. Now that the price is above 7171.44, I expect a retracement to the lower side where I'll be looking for a buy position towards 8000.00. Unless the price clearly goes below 7171.44, I expect a rise towards 8500 or higher. If the price close below 7171.44, then a decline in price towards 5052.10 is expected. 

Trade Signal

Remain long towards 8500.00.

Barclays Weekly Review

Bitcoin Still To Rise

Technical Observation:

Since 15th November 2016, Barclays bank shares have declined in value and could still drop even further. According to the daily chart above, the price has remained confined within the falling channel and is still within it.  With a key support being seen at 8.33, I expect further decline in price towards this support. As at the moment, I expect a rise towards the upper trend line acting as a resistance to the falling channel, where I'll be looking to sell towards 8.33. On the way downwards, the key support lines to look for include 9.45, 9.33, 8.55 and 8.33. If the last support is breached, then further decline is expected towards 7.05.

Trade Signal

Wait and sell upon a rejection from the upper resistive trendline towards 8.33.

MTS Weekly Review

Bitcoin Still To Rise

Technical Observation:

Recently, the price of MTS merely tested the 4 hour resistance zone 294.56-292.80, but ended up closing below it. The price the proceeded downwards but is currently facing a hurdle a clear supportive trend line. I except a rejection from this trend line to buy this share, but if the price can breakout below it, then I'll wait for a pullback the just broken trend line to pick another short position towards 260.40. On the way downwards, the key lines to look for include 272.70, 267.80 and 257.95. On the other side, in case of a bounce above this trend line, then I expect a rise towards 294.56, and even a second attempt breakout. As at the moment, a good buy position will be ideal only in case of a breakout above 294.56.

Trade Signal.

Buy along the lower trendline towards 294.56

 

 

 

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Imelda Maseno
Analyst of «FreshForex» company
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