I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Wednesday, 17 July 2019
Views on Bitcoin and Ethereum
Bitcoin (BTC) and Ethereum (ETH)
Cryptocurrencies experienced weakness after political leaders, particularly US Preseident, Donald Trump, commented negatively on the coins.
BTC fell thru the ICE while ETH trading in MARK Down phase.
BTC is expected to see further weakness after falling thru the ICE (Key Support within Distribution Phase). First support at 7,500 level.
ETH already trading in Mark Down Phase is expected to see support at current 190-200 level. Thus, we may see the drop taking a breather with overhead resistance at 250 level.
Learn to analyse the chart and spot opportunities with Price Cycle and Supply Demand mindset at our next Richard Wyckoff Seminar.