CFD on Bitcoin futures technical analysis

Dmitry Lukashov IFC Markets

CFD on Bitcoin futures Technical Analysis Summary

Sell Stop:Below 0.0457
Stop Loss:Above 0.0608

Indicator	Signal
RSI	Neutral
MACD	Sell
MA(200)	Sell
Fractals	Sell
Parabolic SAR	Sell
Bollinger Bands	Neutral

CFD on Bitcoin futures Chart Analysis

CFD on Bitcoin futures Technical Analysis

On the daily timeframe, uBTC: D1 declines within the neutral range. A number of technical analysis indicators have generated signals for further decline. We do not rule out a bearish movement if uBTC: D1 falls below the last low: 0.0457. This level can be used as an entry point. Initial risk limitation is possible above the last upper fractal and Parabolic signal: 0.0608. After opening a pending order, move the stop-loss to the next fractal maximum following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (0.0608) without activating the order (0.0457), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of CRIPTO - CFD on Bitcoin futures

Investors fear of any negative statements from the Fed regarding the US cryptocurrency market. Will the uBTC quotes continue to decline?

A regular meeting of the FOMC will take place on December 15. Investors fear that the Fed will turn its attention to cryptocurrency markets. Some crypto exchanges issue interest-bearing financial products. On December 8, US House Committee on Financial Services discussed digital asset regulation, but nothing substantive was adopted. It can be assumed that if the Fed does not criticize cryptocurrencies, then uBTC quotes can rise despite negative signals from technical analysis.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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