Posts Tagged ‘Bitcoin’

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South Korea Puts Downward Pressure on Bitcoin

While the situation on the foreign exchange market is quite calm, the cryptocurrency market shows high volatility. On Saturday, bitcoin touched a month high of $13,000, however, today the virtual currency is trading near $10,400. Bitcoin is trading under pressure amid the decision of the South Korean government to publish personal data of traders to monitor transactions. That way the country plans to fight against financing criminal and fraud schemes. Moreover, foreigners […]

Bitcoin Forecast — January 23rd 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 23rd session. Bitcoin/USD — As you can see, it is rather a negative day. The volume is to the downside, we are dropping here against the US dollar, I think somewhere around 10,000. At this point, any rally I think is going to be sold off closer to the $12,000 level. I am not interested in buying until we get above […]

Bitcoin Forecast — January 22nd 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 22nd session. Bitcoin/USD — As you can see, bitcoin has done almost nothing against the US dollar on no volume. It is not a big surprise, breaking down below $12,000 was a pretty significant deal. I think now, we are looking at more than likely to see some consolidation in this $2,000 range. If we can […]

Bitcoin Forecast — January 19th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 19th session. Bitcoin/USD — As you can see, bitcoin has tried to rally, but turned around and it looks like a failed attempt. So, it looks likely that the lack of volume is going to continue to affect this market. With $12,000 level offering resistance, suggests that we are probably going to bounce around between $12,000 […]

Bitcoin Forecast — January 18th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 18th session. Bitcoin/USD — As you can see, we have sold off rather drastically. One thing that is interesting though, that is the $10,000 level is essentially the 50% Fibonacci retracement level, and it has offered support to form a hammer. That is a positive sign. If we break above $12,00 0, we could […]

Bitcoin Forecast — January 17th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 17th session. Bitcoin/USD — We have a bloodbath out there. Bitcoin has broken through $12,000 and considering the higher volume we have now and slicing through this level, it shows extraordinarily strong selling pressure. I suspect that retail traders are panicking at this point. If you have a small position in this market, you are […]

USD Still Soggy in Asian Trade

Market participants are facing unusual developments on forex. The same picture is unfolding with the US dollar for the second trading week in a row. The greenback is unable to recover losses. The US dollar index is still trading near a 3-year low of 90.50. US trading floors are closed on the occasion of Martin Luther King Day. Experts say that a thin market accounts for the weakness of the US dollar. As a result, rival currencies […]

Bitcoin Forecast — January 16th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 16th session. Bitcoin/USD — As you can see, the market has drifted a little bit lower after initially trying to rally during the day. Really at this point, the only thing I would say is, this is where the Chicago Futures market was opened. And we saw a high to the market and fell to the downside after that. A lot of larger institutional investors […]

Bitcoin Forecast — January 15th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 15th session. Bitcoin/USD — Bitcoin/dollar pair really did not do much, but we rallied a little bit during the day. But I think we are going to continue this consolidation between $12,000 and $17,000. We have to use a range bound trading system to take advantage of this. Otherwise, it is going to be difficult to put a lot […]

JPY Ends Week in Green, Bitcoin in Red

The US dollar has been losing ground in the Asian session during the whole week. With the decision to reduce bond purchases, the Bank of Japan triggered speculation that it could scale, back its massive stimulus program. So, market participants hope that Japan's regulator could eventually take radical measures for changing monetary policy. The Japanese currency has been soaring amid such expectations. The USD/JPY pair is […]

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