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Bitcoin: Indistinct trading

Written Peter A Rosenstreich | 2018-02-14 05:09:40 GMT
  • EUR/GBP is trading higher and approaches resistance at 0.8929 (12/01/2018 high). Hourly support remains at 0.8687 (25/01/2018). The technical structure suggests further short-term upside move.

  • In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. The pair is trading above its 200 DMA. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low).


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EURGBP

 

EUR/CHF

Bouncing back.

  • EUR/CHF is heading higher and reached back the 1.155 range early this morning. Hourly resistance at 1.15850 (19/10/2017 high) is approaching while strong resistance at 1.1833 (15/01/2018 high) remains. Hourly supports are given at 1.14269 (04/10/2017 low) and 1.1388 (02/10 2017 low).

  • In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

EURCHF

 

BITCOIN (in USD)

Indistinct trading.

  • Bitcoin is maintained at the range of 8800. Strong support and resistance stand at 5605 (13/11/2017 low) and 12130 (18/01/2018 high). The short-term technical structure suggests further sideways moves.

  • In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 7'000 - 12'000 in 2018. Bitcoin is trading above its 200 DMA (6'500 range).

Bitcoin

Author

Peter A Rosenstreich
tickmill

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