Technical analysis of BTC/USD for 26/06/2019:

Crypto Industry News:

The total number of Bitcoin ATMs (BTMs) around the world reached the threshold of 5,000 for the first time, as confirmed by CoinATMRadar.

According to the latest statistics, there are currently 5,006 standalone BTM in around 90 countries, where cryptocurrency users can buy or sell Bitcoins. Some machines offer both services at the same time. The data relates to the long-term growth period in the BTM sector, with the US leading the trend, as there are more and more locations and formats.

In June, a total of 150 installations were recorded, about 6 per day. General Bytes recently overtook Genesis Coin as the producer with the largest number of installed BTMs. The US currently has more than half of the world's BTM - 3229, with a new pilot program this month that takes machines to the Circle Circle stores in Arizona and Nevada.

Increasing competition in the BTM market is likely to reduce the fees charged to users, which are usually noticeably higher than internet alternatives.

Technical Overview:

At the time of the writing of the analysis, the BTC/USD pair has made a new yearly high at the level of $12,908 and the second WR2 level has been reached. The momentum increased accordingly during the move up, but it might be the last wave upwards in the cycle, the wave 5. The trend on the larger timeframe is still up and there are no signs of any trend reversal yet, but the uptrend is very mature and might correct to the downside any time soon.

Weekly Pivot Points:

WR3 - $14,368

WR2 - $12,738

WR1 - $12,143

Weekly Pivot - $10,500

WS1 - $9,956

WS2 - $8,295

WS3 - $7,678

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larget correction is just around the corner, as all the major impulsive waves have been completed.


The material has been provided by InstaForex Company -