empty
 
 
18.06.2019 09:55 AM
Bitcoin: The institutional investors demand for bitcoin is growing

Updating the next annual maximum of Bitcoin in the region of 9,500 USD is not surprising as the demand of institutional investors for cryptocurrency increases. Such a report was submitted yesterday by JPMorgan Chase, which believes that the Bitcoin industry has changed significantly since 2017 due to the increasing interest of institutional investors.

It is worth noting that the volume of trading in the spot bitcoin market was $725 billion in May, while the bitcoin futures operator CME Group announced that the volume of open bitcoin futures on CME reached a new maximum, exceeding $ 500 million in May.

Bitcoin Buy Signal (BTC)

Buyers failed to cling to the resistance in the region of 9,350 USD, however, they tested it. The main goal remains to breakthrough of this range with a maximum of 9,540 and 9,800, where I recommend taking profits. In the case of a decrease in cryptocurrency, support will be provided in the area of 8,960, while it is best to open long positions for a rebound near the minimum of 8,630.

Bitcoin Sales Signal (BTC)

I do not recommend opening short positions in Bitcoin in the current conditions since a new wave of growth may occur in the near future. Large resistance levels can be traced around 9,350 and 9,540, where it will be possible to observe the profit taking in long positions and will necessarily lead to a downward correction. The task of bears is to breakthrough and consolidate below the support of 8 960, which will increase pressure on bitcoin and lead to a minimum of 8,630 and 8,190.

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback