Insignia Consultants
New Delhi
Thursday, November 7, 2019
TIME: 10:36 am IST
DAILY CRYPTO CURRENCY REPORT
Focus will be on China on
its development of digital currency using block chain technology. China is
trying to use block chain technology for everything. Competition among central
banks will rise drastically if China introduces digital currencies quickly.
Last week, once again, there was default in some bitcoin in Canada. Investment
interest is very less in bitcoin and crypto currencies. I hear voices that
value of bitcoin will be zero. Bitcoin is not shitcoin. Btc/sgd is a much
better to trade and invest than btc/usd. Value of bitcoin will not be zero.
Only state regulation will increase in future. Right now I prefer gold and
silver investing for very short term over btc/usd.
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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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$9,294.40
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$188.98
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$296.87
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$62.76
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$12,778.90
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S5
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$7,014.10
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$144.38
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$198.27
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$29.77
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$11,237.30
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S4
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$7,561.37
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$155.08
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$221.93
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$37.69
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$11,607.28
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S3
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$8,154.25
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$166.68
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$247.57
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$46.27
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$12,008.10
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S2
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$8,423.33
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$171.94
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$259.20
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$50.16
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$12,190.01
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S1
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$8,756.25
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$178.45
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$273.60
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$54.97
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$12,415.08
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R1
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$9,832.55
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$199.51
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$320.14
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$70.55
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$13,142.72
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R2
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$10,165.47
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$206.02
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$334.54
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$75.36
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$13,367.79
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R3
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$10,434.55
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$211.28
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$346.17
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$79.26
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$13,549.70
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R4
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$11,027.43
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$222.88
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$371.81
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$87.83
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$13,950.52
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R5
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$11,574.70
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$233.58
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$395.47
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$95.75
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$14,320.50
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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: 200 day moving average at $9200 is the key
support. Sell off will be there below $9200 to $8680.80 and below. Watch $9200
all the time.
2. ETH/USD: 100 day moving average around $188.40 is the
key support or key price to watch. Eth/usd needs to trade over $188.40 to rise
to 214.50. Sell off will be there if $188.40 does not hold.
3. BCH/USD: 100 day moving average at $279.60 is the key
support. Bch/usd needs to trade over $279.60 to rise to $323.40 and $356. Sell
off will be there below $279.60 to $247.80 and below.
4. LTC/USD: 100
day moving average at $67.40 is the key support. Ltc/usd needs to break and
trade over $67.40 to be in bullish zone. Key support is at $58.20. Sell off
will be there below $58.20.
5. BTC/SGD: 200
day moving average at $12665.40 is the key support. Crash will be there below
$12665.40 to $11989.60. Free will be there below $11989.60.
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)
You can
also mail your queries at insigniacommodity@gmail.comChat Id: telegram/whatsapp 9311139549
(10:30 am to 5:30 pm Indian time, Monday to Friday)
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