MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Bitcoin Elliott Wave analysis for 21/02/2019

Technical market overview:

The BTC/USD pair has made a new local higher high at the level of $4,101, but now it looks like the price is starting a local pull-back towards the technical support at the level of $3,881 or $3,850. The price has made a possible Shooting Star candlestick pattern and is now reversing towards the narrow consolidation zone. The short-term trend line, marked in orange, is not the key dynamic support level that will confirm the possibility of a top: any breakout below this level would mean the top should be in place and the corrective cycle has been started.

Traders should now keep an eye at the level of $3,763 as any violation of this level will invalidate the impulsive bullish count and will confirm the top is in place.

Weekly Pivot Points:

WR3 - $3,888

WR2 - $3,820

WR1 - $3,733

Weekly Pivot - $3,657

WS1 - $3,568

WS2 - $3,499

WS3 - $3,414

Trading recommendations:

Currently, going short is not a really good setup and it is better to wait for the price reaction at the level of $3,881 or $3,850 and then open a trade, but if you are an aggressive trader, you can try to short the BTC after the orange trend line is violated (around the level of $3,990 and set the take profit order at one of the nearest technical support levels.

analytics5c6e43be2edf7.jpg

The material has been provided by InstaForex Company - www.instaforex.com