Bitcoin Ichimoku cloud Analysis indicates mixed signals across different time frames in terms of BTC price prediction. On one hand, on the daily chart, the BTC/USD pair has crossed below the Ichimoku cloud and testing to break below the 61% Fibonacci retracement level of 7,362. A break below this level could open doors for further drops towards the key support level of $6,000.
On the other hand, on the monthly chart, the pair is being supported by the monthly Ichimoku cloud. we won’t know until January 2020 if this support is going to hold the pair from further drops.
For more from Invest Diva, click here
HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Latest Crypto News & Analysis
Editors’ Picks
Crypto Today: Calm between the storm? Schiff says look out below, Dash, Monero stand out
Bitcoin in mid-range, BTC/USD is trading just below $7,400 after experiencing rises and falls of hundreds of dollars within days. Peter Schiff, a life-long crypto skeptic, said that pumpers and dumper have lost the plot, and added: "Look out below".
Ethereum Price Analysis: ETH/USD bumps into $148.00, waits for new drivers
ETH/USD has recovered to $148.00 on Thursday; however, the upside momentum has faded away during early Asian hours. The second largest coin with the current market capitalization of $16.2 billion has settled in a tight range limited by $148.00 on the upside.
Monero Price Analysis: XMR/USD rises from the ashes
Monero is arguably the biggest single-digit gainer on the first Friday of December. The crypto has increased in value by 2% on the day after opening the trading session at $55.01.
Bitcoin Cash price analysis: BCH/USD market momentum turns from bearish to bullish
BCH/USD is on course of charting its second straight bullish day. Currently, the price has gone up slightly to $211.75 and is floating below the 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves.
BEST CRYPTO BROKERS/EXCHANGES
Bitcoin Weekly Forecast: It's all about whales again
On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.