BHEX Daily Crypto Watch & Perpetual Contract Strategy (Oct 17th 2019) ⋆ Crypto New Media

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BHEX Daily Crypto Watch

J. Christopher Giancarlo and Daniel Gorfine, the former heads of The U.S. Commodity Futures Trading Commission have proposed a Blockchain-Based Digital Dollar.

Robert Kaplan, President of Federal Reserve Bank of Dallas said that the Fed has taken notice of the digital currency issue. Currently, central banks globally have started their research and development on digital currency. This may impact and weaken the traditional currency. Therefore, the issue has to be treated very carefully.

Gray Capital, a Private Investment Fund company, released a quarterly report showing a new record of $254.9 million investment received within the third quarter. This is three times the amount of $85 million it received from the previous second quarter. This positive outlook with the surge in incoming funds, shows the market has confidence in the digital currency industry.

Market situation:
Yesterday saw Bitcoin pullback further, dipping below 8000 level. Although the market has since recovered slightly, the rebound is weak. The current downward slide may test the 7700 mark.

Bitcoin may fall below the 7700 mark, and the next support level will be at 7400. Short-term looking for sales, long-term accumulation. It is recommended to hodl till the next halving.

Although leading cryptocurrencies have rebounded slightly, there’s still no success to break the resistance. Pullback is stronger than rebound. The market might encounter more dips before the next reverse. Therefore, be cautious before placing a large order.

(The above is an opinion, not financial advice)

BHEX Perpetual Contract Strategy (Oct 17th, 2019)

Today, Bitcoin fell below 8000 mark and it might fall further. The probability of a reverse at 8000 level is very minimal and the rate of deviation is very low. In short-term, we might see a slight rebound once it has oversold. However, the bearish trend will continue. Pay attention to the 8080 resistance level and 7700 support level. If the 7700 level cannot hold, we will most likely see the next support level hitting 7400.

Primary Strategy: Short 8080, Stop Loss 8170, Target 7800.
Secondary Strategy: Long 7800, Stop Loss 7700, Target 7950.

(The above is an opinion, not financial advice)

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Free Bitcoins: FreeBitcoin | BonusBitcoin

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Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

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