Insignia Consultants
New Delhi
Sunday, February 2, 2020
TIME: 3:15 pm IST
BITCOIN AND CRYPTO CURRENCY REPORT
Spread of corona virus
should result in more adoption of bitcoin and all crypto currencies. Trend at
the moment is very bullish. Be ready for another twenty percent one way price
moves in February in all crypto currencies. I am bullish. Please do not confuse
digital currencies which almost all central banks intend to launch with crypto
currencies. Launch of digital currencies will only accelerate the pace of rise
of bitcoin and other crypto currencies. A lot of crypto trading platform and
crypto currencies are backed by gold. Postitves outstrip negatives in all
crypto currencies by a big margin.
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Crypto Currencies 14 day 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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$9,396.20
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$188.66
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$380.35
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$70.87
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$12,763.80
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S5
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$7,797.90
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$126.42
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$239.53
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$33.95
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$11,005.80
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S4
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$8,181.49
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$141.36
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$273.33
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$42.81
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$11,427.72
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S3
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$8,597.05
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$157.54
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$309.94
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$52.41
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$11,884.80
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S2
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$8,785.65
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$164.88
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$326.56
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$56.77
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$12,092.24
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S1
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$9,019.00
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$173.97
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$347.12
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$62.16
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$12,348.91
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R1
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$9,773.40
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$203.35
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$413.58
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$79.58
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$13,178.69
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R2
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$10,006.75
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$212.44
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$434.14
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$84.97
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$13,435.36
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R3
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$10,195.35
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$219.78
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$450.76
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$89.33
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$13,642.80
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R4
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$10,610.91
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$235.96
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$487.37
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$98.93
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$14,099.88
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R5
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$10,994.50
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$250.90
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$521.17
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$107.79
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$14,521.80
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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: (a) Key resistance is at $9622. Bitcoin needs
to break and trade over $9622 to rise to $10464.10 and $10986. (b) 200 day
moving average around $8900 is the key support. Crash will be there only below
$8900.
2. ETH/USD: (a) Key resistance is at $199. ETH needs to
break and trade over $199 to rise to $216 and $240. (b) 200 day moving average
around $174 is the key support. Crash will be there only below $174.
3. BCH/USD: (a) It can rise to $427 and $460 as long as it
trades over $352. (b) Crash or sell will be there if bch/usd trads below $352.
4. LTC/USD: (a)
It needs to trade over $61.60 to rise to $91.30 and $107. (b) Crash or sell off
will be there only if ltc/usd trades below $61.60.
5. BTC/SGD: (a)
Btc/sgd can rise to $13765 and $14601 as long as it trades over $12230. (b)
Crash or sell off will be there below $12230.
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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