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Hi friends, Now we are going to study today's bitcoin charts. Now the bitcoin rate is running 6593. There is still uncertainty in the market. Some support and resistance levels are shown in above charts , If bitcoin will move upward then alt coin also follow it. If bitcoin falls, then the resistance level is 6402, If it goes down even then the support level is 5792, which is quite a critical level, which would be difficult for breaking .If there is a higher volume in market then it will go up to 6783, there is a resistance level .
If bitcoin breaks resistance level of 7403 with high volume then it will go up to 7739.If it breaks the level of 5792 then it can go down very low, it will go up to 5502 level. The reason is to tell you that you can understand, in trading minimize the loss is more important than to earn profit. If we can able to minimize the loss then profit will come naturally.
That's all for today, If you liked this article ,please follow and upvote me.
Thanks
@Kamal0905
nice work sir, @banjo
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Why do I always spill?
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@banjo, Please follow news & chart analysis...
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To where?
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@banjo, you can make a free account on trading view.com for charting & analysis.
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My name is Tyroyal Smoochie-Wallace.
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@banjo, if you face any problem in crypto trading ,feel free to call me i will be glad to help you.
Thanks
@Kamal0905
[email protected]
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I don't know... Politic? Religion? Culture?
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follows you.
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@banjo, plz analysis charts & indicators. I have post a blog about RSI indicator yesterday and will bring MACD,Klinger Oscillator,Moving avearge & many more shortly,one thing more crypto news plays very important role in trading,keep an eye on this .
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I don't know a Tom. I know a Thomas.
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Thanks bro...
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No problem bro.
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@kamal0905
Main reasons for price changes are listed below
Government regulation : reading the news I see that governments can either ban a cryptocurrency or adopt. Both choices impact prices.
Companies regulation: if a huge company stop accepting Bitcoin, then prices will likely fall, also if a huge number of smaller vending sites stop acceptance
The Demand and Supply : basic market supply demand rules, remember that Bitcoin has a limited supply of 21 million tokens.
News and fake news: bad news and important figures speaking against Bitcoin
Panic selling: market is emotionally driven, when prices start to fall, people fear and start selling, which drives a lot more to do the same
New protocols: anything that enhances transactions, in terms of fees and velocity
Illegal market manipulation: illegal practices that are responsible for moving huge amounts in the market
It's my opinion bro plz read if you have some questions then please comment and upvote ..
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Congratulations @kamal0905! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
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