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FxWirePro: BTC/USD bearish engulfing hampers bullish momentum, dragonfly doji counters, Are Bitcoin CFDs suitable amid huge turbulence?

BTCUSD price has been oscillating between $4,384 and $3,215 levels, this price behavior has formed wedge pattern, where bulls take-off rallies above DMAs on bullish engulfing formation at $3,724 levels, while bearish engulfing appeared at $3,831.3 levels that nudge prices back below DMAs, whereas dragonfly doji has occurred at $3,900.10 levels to counter downswings with bounce back again.

Well, in this price turbulence, if one needs a reliable and stable instrument to trade, then CFDs could come handy for you. Crypto CFDs hasn’t been alienated for the investors. They have been around for quite some time now. CFDs began emerging along with crypto boom was trending. 

Besides, the brand new crypto-derivative has swiftly become a prevalent trading vehicle in the modern world, as one may not actually hold real bitcoins in their wallets. Hence, risk-averse can abstain from price turbulence, yet participate in the asset class, as a result, umpteen number of investment companies launched Crypto CFDs and options, and some more similar derivative products are on the cards.

Most importantly, because CFD mechanism is most likely to ensure security as these instruments wouldn’t expose to the attention of potential hackers of the crypto exchanges. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -111 levels (which is bearish), while hourly USD spot index was at 33 (mildly bullish) while articulating (at 10:27 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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