Bitcoin analysis for 19/12/2017 19.12.2017


Immediately after the start of the Bitcoin futures trading, by the CME Group, which will be closed in January, Bitcoin’s price jumped to $ 20,800, after which, at the time of publication, it fell back to $ 18,800. However, contracts that expire in February, March, and June are still valued at $ 20,000. Considering the current market price of $ 18,500, Wall Street believes that the price is overstated. These conclusions are drawn despite the fact that the fall of 4% in the world of cryptocurrencies is relatively small.

The media also became interested in the opening of new CME Group products. The BBC has reported this fact, stating that the opening of this market is conducive to the widespread adoption of Bitcoin. The BBC considered it necessary to combine the above event with the statement of the chairman of UBS, Axel Weber, who expressed the opinion that Bitcoins are not money.

There are many theories about what will happen after the opening of the CME market. Although there are legitimate arguments for the possibility of investors breaking, new ones should remember that the trend is their friend. Recently, even JPMorgan Chase president Jamie Dimon admitted that before his fall, Bitcoin can be priced at even $100k at some point in time.

Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The price has made a new high at the level of $19,661, which can be labeled as the top for the wave (5). The local support at the level of $17,894 has been tested and together with a weekly pivot at the level of $18.062 will now act as a strong support zone for the price. Please notice a strong bearish divergence between the price and momentum indicator, which clearly favors the downside correction scenario.

Exchange Rates 19.12.2017 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2017

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade


Source link

قالب وردپرس

We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.

Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at

Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535

Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply