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BTCUSD Technical Analysis - BTCUSD Trading: 2022-02-07
BTCUSD Technical Analysis Summary
Above 40600
Buy Stop
Below 32600
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
BTCUSD Chart Analysis
BTCUSD Technical Analysis
On the daily timeframe, uBTC: D1 came out of the downtrend up. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if uBTC: D1 rises above its most recent high of 40600. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the lower Bollinger line and the last 2 lower fractals: 32600. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (32600) without activating the order (40600), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Crypto - BTCUSD
The Russian Ministry of Finance opposed the prohibition of cryptocurrencies. Will the uBTC price rise?
The Ministry of Finance of the Russian Federation proposes not to ban cryptocurrencies in Russia, but to develop new rules for their regulation. It is assumed that this issue can be considered in the Russian government on February 11. On January 20, the Bank of Russia proposed to ban mining and operations with cryptocurrencies. According to Bloomberg, Russians own $214 billion worth of cryptocurrencies, which is more than 12% of the total capitalization of the global crypto market. It should be noted that earlier the Cambridge Center for Alternative Finance estimated Russia's share in global mining to be about 12%. Another positive may be the unexpected refusal of the Latin American country El Salvador to comply with the demand of the International Monetary Fund (IMF) to cancel the use of bitcoin as an internal means of payment.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
