5th December: Bitcoin, Bitcoin Cash & Ethernum Daily Report
Tuesday, December 05, 2017
TIME: 9:32 am IST
DAILY CRYPTO CURRENCY REPORT
The competition has begun among American exchanges over bitcoin futures. CBOT will start bitcoin futures from Sunday. There will be no exchange charge from CBOT in December. CME will start bitcoin futures from 18th December. More and more global trading exchanges will soon start bitcoin futures next year. The legalization of crypto currencies will give every investment class a run for the money. I believe that investment in bitcoin futures should not be more than two years. Initially returns will be very high. However investment returns in bitcoins/crypto currencies will reduce from the third quarter of next year.
Bitcoin (CMP $11581.00): Support: $10975.00. Resistance: $11857.0. Bitcoin can rise to $12209 and $12486.50 as long as it trades over $10975. Immediate support is at $11331.90. There will be sellers below $11331.90.
Bitcoin Cash (CMP $1503.80): Support: $1473.50. Resistance: $1513.40. Only a break of $1513.40 will trigger another wave of rise to $1533 and $1591. Sellers will be there below $1473.50 to $1431.90.
Ethernum (CMP $462.40): Support: $451.20. Resistance: 485.60. Ethernum needs to trade over $451.20 to rise to $485.70 and $498.60. There will be sell off below $451.20 to $436.70 and $412.20.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals, crypto currencies and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani
Further disclaimer (read very carefully)
Trading of Bitcoins is illegal in my country India. The above report is not meant for resident Indians and Indian corporates. It is meant for traders or corporates in nations where bitcoin and other crypto currencies have got legal validity. Insignia Consultants and it employees are not responsible for illegal trading of crpto currencies and/or nations where crypto currencies do not have legal validity. Insignia Consultants does not advise on any investment strategy which is illegal nor does not it recommend people to trade in anything which is illegal to a nation. The above views are just technical views.
NOTES TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
ALL PRICES ARE IN US DOLLARS UNLESS OTHERWISE SPECIFIED
Indian Standard Time (IST): +5:30 GMT
Current Market Price (CMP)