BTC/USD Technical Analysis

Bitcoin price stalled in the last few months, here the preview what can be expected in the following weeks and months. 
Unclear path for the regulation of the crypto currencies, new innovative technologies and the fear of big unexpected movements due to volatility have contributed the price of Bitcoin to trade in a tight range which back in 2017 and early 2018 was common for a few hours movement. As longer we wait on regulation and limited usage of crypto currencies as purchasing currency, there will be less people involved in trading them. It is very important to know that the power of a currency is in its frequency of usage, not how limited in supply is. We may have only 21 million Bitcoins available, but if we don`t have high frequency usage in purchasing transactions globally, there will not be much of a value in it.

Having said that above here are some BTC/USD levels that you need to watch before you decide to trade:

Resistance 1: 7400Support 1: 5840
Resistance 2: 8600Support 2: 4948
Resistance 3: 10000Support 3: 3070

MACD (12, 26, 9) indicator shows bearish tendency, and if it follows through it can be expected the price to reach Support 1 in the following trading sessions. The analysis has been made on a daily chart, available below.  
By  The Trade Academy™
Risk warning!
Your capital is at risk! Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit. You should first be aware of the risk and know what you do before you proceed with trading. Signals are mathematical calculations, be aware of fundamental risks that can influence prices to move differently! Supplied information is not advice, and the provided data is accurate as it was provided from the partners, therefore we or our partners are not liable for any damage or losses that may occur!
The Trade Academy™ and Herculean Constancy Forex Signals™

European Midday Briefing 09 October 2018*
EUR/USD Fundamental Influence and Technical Analysis

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