The last week has seen one of the most serious drops for Bitcoin ever since the flagship cryptocurrency entered the mainstream. Several support levels were broken withing days of each other and right now it’s trading at 7703 after bouncing up from yesterday’s low at 5970.
A lot of news has been accompanying this selloff – the largest U.S. banks banned cryptocurrency purchases with their credit cards, the UK imposed the same barrier at almost the same time. More regulation does seem to be on its way in the western economies but at the same time governments in Singapore and Australia have shown no signs of any unease with the cryptocurrency phenomenon.
David Jones takes a look at the chart and identifies the current support and resistance levels and discusses the strength of the trend that looks to be in control right now.
Let us know where you think Bitcoin is headed in the comments below.
At Trading 212 we provide an execution only service. This video should not be construed as investment advice. Investments can fall and rise. Capital at risk. CFDs are higher risk because of leverage.
first!!
Could you do more videos about DAX? something like what to expect, or analize the activity it had during the previous day.
Bitcoin is overrated
ok illiterate loser we believe you.
There’s too much manipulation in this market , at 1 point the difference between exchanges was close to $500 . And the teather situation doesn’t bring in any confidence .
Definitely an opportunity. Youl thank me later
I will be liking and spreading every watched video from your channel to my friends
Delighted to see you appreciate the videos. 🙂
We have support at 1200$ – the cost of the electrical bill , lol
hello what do you think about Dow Jones drops 1500 points?is correction now?
David geat video as usual. Checking on gold miners etf (GDX), technically can you call this last fall a washout? From a top of 24,60 on the 24th of january; Or not?
can you make a video on how to take profits?
Hey Gasper, take a look at these videos:
Stop Loss and Take Profit Orders in Trading 212 – https://youtu.be/4sUG-ow3W48
How to Place Your Take Profit Order – https://youtu.be/7ha84BgNQ9s
Trading 212 thanks looks like I missed them!
We are coming in waves… BEEEKONEEEEEEEEKTTT
Hey hey heeeyyyyyy
oh no no no that’s a scam ; ) even my wife doesn’t believe me (smart wife)
You guys have to stop the automatic closings of all crypto positions. It’s hard to make a good profit confidently with the current setup :/
Hey Sandro, from now on the open positions with cryptocurrency instruments will be automatically closed only once a month – every last Friday of the given month.
Trading 212 thank you!!!
I want to put some money in a new account and trade bitcoin with 212 but this sort of thing is putting me off!
Always appreciate your videos. Thank you from “across the pond”!
Always have faith in your weekly review. Many thanks
the old people “regulators” got scared when the grandkids came home for Christmas telling the about the virtue/value of decentralization of value. they then are like, we are having none of that. im seeing a heavy turn around after this reversal stream has faded
Buy baby Buy, I keep doubling up. cause the good news is really ramping up.
Solid advice
I was here to see if you could pick up the bottom at these levels. Catching reversals are hard, but it requires an open mind. Was there anything signaling a reversal?
I think just hang on and wait for, for example, the same level to be tested twice. Too many just buy blindly into a steeply falling market.