► 09 Sep 2019 – 📈 Weekly Trading Analysis 💸
Bitcoin has broken through the triangle formation last week but there was not enough selling pressure to sustain it.
Currently, Bitcoin is still within the wedge formation and on the edge of breaking down again. The $9,000 level is the key one to watch when it comes to further falls in the price of BTC.
Litecoin is now in negative bearish trend on the daily. The 50 MA has gone below the 200 MA which could mean a further continuation in the downtrend. We could expect to see Litecoin move to below $50 if the downtrend is to continue.
On the FX market side, you have the GBP which is back in a recovery. We saw a fall after our sell call last week. Currently, shorting GBP could be risky given the uncertainty around brexit.
We also take a quick look at potential moves on Euro based on the Fibonacci levels.
Finally, Arb Trader Ali takes a look at a potential mineable low cap coin.
► Warning!! ⚡️
Trading Forex & Cryptocurrency is very risky. Make sure that you practice adequate risk management to protect your account.
► Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results. Open CDPs at your own risk!
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