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► 19 Aug 2019 – 📈 Weekly Trading Analysis 💸
Where could Bitcoin be headed? Prices remain rangebound as no clear direction appears to be forming.
Traders should wait for any trendlines to break before opening new positions. If we are able to break the 50 moving average then we can expect a rally. If there is a flash crash be sure to watch the 200 moving average.
Litecoin appears to still be pulling back from the levels that we saw prior to the halving. Look for potential breaks down and bullish candles off of the support levels.
The Euro remained in a sideways accumulation with a slight negative trend. There was a slight breakdown away from this accumulation phase which we captured last week.
GBP remains in an extremely bearish trend. There was a slight pull back last week but this is not enough confirmation of a potential reversal. Keep your eyes on potential opportunities to short on short term reversals.
Finally, could Gold be driving the price of Bitcoin? Gold is rallying above $1,500 as Bitcoin has fallen from its highs. Could traders be trading off the one “safe haven” for the other?
Arb Trader Ali takes a look…
► 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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