Bitcoin - Will trade higher from a technical point of view

Eddie Tofpik, Head of FX at ADMISI talks to Nick Batsford about the technical outlook for Bitcoin. Tofpik notes the halfway hesitation level at 8200, the levels to watch are 6710 support and 5530 and upside 7788 and 8200. Also the projected fib level 9276.

Topik also highlights the proposed CME Bitcoin futures contracts, which will allow institutions to get involved in the cryptocurrency having not previously had the mandate to do. Institutions trading the Cash settled contracts could go long or short.

Core Finance is part of Core London, a TV production company based in Belgravia, London. Core Finance aims to provide its viewers with insightful market commentary, helping investors navigate global financial markets. Making the content provided invaluable to viewers.

Our shows are closely followed by fund managers, day traders, retail investors, company CEO's, experienced investors and those new to the financial markets.

Core Finance covers all asset classes ranging from currencies (forex), equities, bonds, commodities, crypto-currencies, ETF's, futures and options.

Views expressed are solely those of guests and presenters and do not constitute investment advice and are not the views of Core Finance or Core London.

 

ADM Investor Services Limited – FCA No 148474 Disclaimer This information has been has been issued by ADM Investor Services International Limited (“ADMISI”) in accordance with ADMISI’s Investment Research Policy. This information is only intended to be distributed to existing Eligible Counterparties and Professional Clients of ADMISI. Further, ADMISI’s investment research is intended for use solely by Eligible Counterparties and Professional Clients, who possess a certain degree of knowledge and experience in the subject of this information. Therefore the contents may refer to terms and subjects that may be unsuitable for Retail Clients and this information should not under any circumstances be forwarded to a Retail Clients. This content is for information purposes only and should not be construed as an offer, solicitation or recommendation to buy or sell any investments or investment advice. ADMISI does not recommend or endorse any particular investment, or course of action. This information has no regard for any investment objectives or financial situation of any Eligible Counterparty or Professional Client. Any investment that is referred to may warrant further investigation or research, which will be solely at the discretion of the Eligible Counterparty or Professional Client. Information and opinions expressed herein are based on sources believed to be reliable, however ADMISI does not represent that they are accurate or complete. Further any views or information are based upon judgements made as at the date of this information. All opinions and information are subject to change without notice. ADMISI and/or connected persons may from time to time have positions in or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers or such investments. ADMISI has put in place systems and controls mechanisms supported by appropriate procedures to identify and manage any conflicts of interest that may arise. A copy of ADMISI’s Conflict of Interest Policy is available upon request. In relation to this content, ADMISI does not believe that any relationships, circumstances, interests or potential conflicts of interest that would require disclosure under the FCA Conduct of Business rules are likely to arise. In particular no major shareholdings or financial interests exist between ADMISI and any relevant company. In the event that this situation changes then appropriate disclosures will be made. All investments involve a degree of risk and may not be suitable for certain investors. All investors should make their own investment decisions based on their circumstances, financial objectives and resources and after seeking any appropriate professional advice. This information has not been prepared under the Independent Investment research regulatory requirements and accordingly there is no prohibition on dealing ahead of the dissemination of this research material. ADM Investor Services International Limited is authorised and regulated by the Financial Conduct Authority FCA Number 148474 in the UK.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD edges lower toward 1.0700 post-US PCE

EUR/USD edges lower toward 1.0700 post-US PCE

EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.

EUR/USD News

GBP/USD retreats to 1.2500 on renewed USD strength

GBP/USD retreats to 1.2500 on renewed USD strength

GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.

GBP/USD News

Gold struggles to hold above $2,350 following US inflation

Gold struggles to hold above $2,350 following US inflation

Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses. 

Gold News

Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium

Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000

Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors. 

Read more

Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too

Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.

Read more

Majors

Cryptocurrencies

Signatures