Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside
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FxWirePro™ Launches Bitcoin Newsfeed
FxWirePro™, the official FX market analysis provider for EBS, MetaQuotes, Spotware, NetDania, Multicharts, thinkorswim just announced that it launched real-time news and analysis on bitcoins and other digital currencies.
Bitcoin Newsfeed is meant to give traders a general sentiment and direction for the digital currency market. It covers news and analysis on the technical analysis, price movements, technologies, regulatory bodies, companies and people in the bitcoin and digital currency world.
Microsoft: No immediate plans to expand bitcoin outside U.S.
Overruling the rumors, Microsoft said its program for bitcoin payments to be available only to US customers for now. But the IT major signalled that it is considering to launch the program to other new markets like Europe and said such discussions are still in the preliminary stages.
“We are looking into expanding our bitcoin payment processing outside of the US, but have nothing more to share at this time,” said a spokesperson of Microsoft on Tuesday.
BTC/USD Short Term Outlook: (graph attached)
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 359.74
Kijun-Sen level: 372.80
Ichimoku cloud top: 397.86
Ichimoku cloud bottom: 397.49
BTC/USD made a low of 339.62 and has recovered till 354 from that level. Overall trend is weak as long as resistance 360 (200 day 4HMA) holds.
The pair break above 360 would extend gain to 365/372 in short term.
The major support is around 337 and any break below will take the pair to 332/329 (78.6% retracement of 295.30 and 454.98).
Recommendation: Sell BTC/USD around 354-55, SL 360.10, Target 337.10
FxWirePro™ is a leading financial analysis service providing invetors and traders with a comprehensive overview and insights affecting the currency markets in a truly trader friendly format - succinct and to the point.
The newswire is available in English right now and comes readily integrated with the MT4, MT5, cTrader terminals or customized for any trading platform via API.
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