Bitcoin: Crashing


Strong decline.

  • EUR/GBP is trading lower. However, as long as prices remain below the resistance at 0.9176 (declining trendline), the short-term technical structure is biased to the downside. Hourly support is given at 0.8982 (12/09/2017). Resistance lies at 0.9306 (29/07/2017 high).

  • In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).

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Buying demand.

  • EUR/CHF's buying pressures are going up and the pair has broken resistance area between 1.1356 and 1.1472. Further medium-term sideways moves are favoured.

  • In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).





  • Bitcoin is taking a dive after strong interest over the summer. Support lies at 3599 (22/08/2017 low) has been broken. Key resistance can be located at 4921 (01/09/2017 high). The road is wide open for further decline below $3000.

  • In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.


This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.