BTC analysis for 01.27.2020 – Major pivot level at the price of $8.750 on the test, watch fo the price action around it to

Industry news:How close is bitcoin (BTC) to becoming money? New data from BitMEX Research claims that although BTC transactions are now more precise than ever, the cryptocurrency still remains a long way off elusive money status – and believe that precision could actually hurt BTC’s hopes of becoming money.The big news is that there has been a “marked increase in [BTC] precision in the last 10 years, which surprisingly continued even beyond 2018.”Technical analysis:Major short-term pivot level is on the test at the price of $8.750-$8.800. Watch carefully for the price action around our main pivot level.The rejection of the main pivot at $8.750 may lead us for test of $8.426-$8.232.The upside breakout of the main pivot at $8.75 may lead us to test of $8.990.MACD oscillator is showing positive reading and the slow ling is slopping to the upside.Main resistance level is seen at the price of $8.750-8.880Support levels and downward targets are set at the price of $8.426 and $8.232.The material has been provided by InstaForex Company – www.instaforex.comIndustry news:How close is bitcoin (BTC) to becoming money? New data from BitMEX Research claims that although BTC transactions are now more precise than ever, the cryptocurrency still remains a long way off elusive money status – and believe that precision could actually hurt BTC’s hopes of becoming money.The big news is that there has been a “marked increase in [BTC] precision in the last 10 years, which surprisingly continued even beyond 2018.”Technical analysis:Major short-term pivot level is on the test at the price of $8.750-$8.800. Watch carefully for the price action around our main pivot level.The rejection of the main pivot at $8.750 may lead us for test of $8.426-$8.232.The upside breakout of the main pivot at $8.75 may lead us to test of $8.990.MACD oscillator is showing positive reading and the slow ling is slopping to the upside.Main resistance level is seen at the price of $8.750-8.880Support levels and downward targets are set at the price of $8.426 and $8.232.The material has been provided by InstaForex Company – www.instaforex.comRead More

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