Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/USD breaks below 10000, good to go short on rallies

BTC/USD has broken below the 10000 mark and is currently trading at 9785 levels at the time of writing (Bitstamp).

On the topside, the pair faces resistance at 10011 (1h 20-SMA) and a break above would see it testing 10576 (20-DMA)/10754 (10-DMA). Further strength would target 11000/11171 (38.2% retracement of 19666 and 5920.72)/11600 (Cloud top).

On the down side, support is seen at 9349 (61.8% retracement of 2972.01 and 19666) and further weakness would drag it to 9000/8734 (Cloud bottom). A break below Cloud would see further downside in the pair, targeting 8575 (78.6% retracement of 5555.55 and 19666)/8000.

Momentum studies: Bias appears bearish on the daily chart with RSI at 44, stochs biased sharply lower and bearish MACD crossover. Intraday bias is also bearish.

Recommendation: Good to go short on rallies around 9800/10000. SL: 10800. TP: 9349/9000/8734.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 14 15:00 UTC Released

USUS Retail Invty Ex Auto (R)

Actual

0.7 %

Forecast

Previous

0.7 %

December 14 15:00 UTC Released

USBusiness Inventories MM

Actual

0.6 %

Forecast

0.6 %

Previous

0.3 %

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 469802469802m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 469802469802m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 457982457982m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.