New Delhi
Monday, October 21, 2019
TIME: 11:50 am IST
DAILY CRYPTO CURRENCY REPORT
It has been nearly three
weeks, that I have prepared the crypto currency report. One thing is for sure,
facebook’s Libra will come in the markets much sooner than most of us expect.
Do not write Libra off in your mind. Chinese government is making every effort
to ensure that its own digital coin offering is traded or released much before
Libra. The knee jerk reaction of opposing Libra (by almost every politician in
the world) has been now toned down. Even certain European central bank
officials admit that “Libra” will be allowed in Eurozone with some regulations.
Regulation are needed. Hongkong is being wrecked apart mainly due to the
support of crypto/bitcoin transactions. (Yeah, I am a big supporter of the
Chinese government in Hongkong. NATO should not dig into internal activities of
nations. Media never reports opoid crisis in USA and developed nations. Media
does not tell you the real reason for extremely high suicide rates in USA.
Media does not tell you why American pharma companies loot the world. So why
should NATO intervene in day to day activities of every nation.). A global
child porn ring was recently caught in South Korea. This child porn ring
accepted payment in crypto currencies in the dark web. I believe that Pakistan
is using crypto currencies for terrorism activities in India and Afghanistan.
Regulation of crypto currencies are needed. But taxes on sale, purchase and
genuine usage are not acceptable.
The pain in crypto
currencies can last from thirty days to two hundred days. 2020 should the year
when crypto currencies resurge. However days of whambam profit are over in
crypto currencies.
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Crypto Currencies daily technical levels
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btc/usd
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eth/usd
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bch/usd
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ltc/usd
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btc/sgd
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CMP
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$8,278.00
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$175.04
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$224.94
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$54.43
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$11,305.10
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S5
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$5,926.00
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$163.18
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$192.70
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$31.48
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$9,866.00
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S4
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$6,490.48
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$166.03
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$200.44
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$36.99
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$10,211.38
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S3
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$7,102.00
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$169.11
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$208.82
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$42.96
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$10,585.55
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S2
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$7,379.54
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$170.51
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$212.62
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$45.66
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$10,755.36
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S1
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$7,722.93
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$172.24
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$217.33
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$49.01
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$10,965.47
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R1
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$8,833.07
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$177.84
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$232.55
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$59.85
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$11,644.73
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R2
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$9,176.46
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$179.57
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$237.26
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$63.20
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$11,854.84
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R3
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$9,454.00
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$180.97
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$241.06
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$65.91
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$12,024.65
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R4
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$10,065.52
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$184.05
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$249.44
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$71.87
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$12,398.82
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R5
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$10,630.00
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$186.90
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$257.18
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$77.38
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$12,744.20
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CMP= Current price market price
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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1. BTC/USD: 100% retracement is at $7711.10. As long as
bitcoin trades over $7711.10, it can get a pullback rally to $10105 and more.
Immediate resistance is around $8879. (200 day moving average.) Massive sell
off will be there below $7711.10.
2. ETH/USD: It needs to trade over $165 this week to rise
to $194.40. Crash of sell off will be there below $165.
3. BCH/USD: 200 day moving average at $213.60 is the key
support. Bch/usd needs to trade over $213.60 to rise to $240 and $258. Sell off
will be there below $213.60.
4. LTC/USD: Looks
bearish and can fall to $44.40 as long as it trades below $62.30.
5. BTC/SGD: 100%
retracement is around $10102. Another wave of sell off will be there only below
$10102. Btc/sgd needs to trade over $12219 to be in bullish zone.
Insignia Consultants and its team have not invested OR traded
in crypto currencies as it is illegal to trade in India.
Before Investing or trading in crypto currencies: Crypto currencies are unregulated investment or unregulated
trading instruments. Risks are the highest among all investment class.
Disclaimer: Any opinions
as to the commentary, market information, and future direction of prices of
specific currencies, metals, crypto currencies and commodities reflect the
views of the individual analyst, In no event shall Insignia Consultants or its
employees have any liability for any losses incurred in connection with any
decision made, action or inaction taken by any party in reliance upon the
information provided in this material; or in any delays, inaccuracies, errors
in, or omissions of Information. Nothing in
this article is, or should be construed as, investment advice. Prepared by
Chintan Karnani
Further disclaimer (read very carefully)
Trading of Bitcoins is illegal in my country India. The above report is
not meant for resident Indians and Indian corporates. It is meant for traders
or corporates in nations where bitcoin and other crypto currencies have got
legal validity. Insignia Consultants and it employees are not responsible for
illegal trading of crpto currencies and/or nations where crypto currencies do
not have legal validity. Insignia Consultants does not advise on any investment
strategy which is illegal nor does not it recommend people to trade in anything
which is illegal to a nation. The above views are just technical views.
NOTES
TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
ALL PRICES ARE IN US DOLLARS UNLESS OTHERWISE
SPECIFIED
Indian Standard Time (IST): +5:30 GMT
Current Market Price (CMP)
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also mail your queries at insigniacommodity@gmail.comChat Id: telegram/whatsapp 9311139549
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