Bitcoin: The Nearest Support Area Is 2930.52-2046.24
Dmitry Zeland | Feb 07, 2019 02:23AM ET
The capitalization of the Bitcoin cryptocurrency futures market of CME Group (NASDAQ:CME) has decreased by 2%. The total capitalization of the derivatives markets at BTC/USD was $156 million. A slight decrease in investors' blocked positions of less than 1% indicates unidirectional movement during the current trading week. In monetary terms, the volume of investors' locked positions in Bitcoin Futures amounted to $8 million.
Overweight buyers Bitcoin Futures decreased by 9%. In monetary terms, the total net overweight of buyers amounted to $8 million. The nearest area of support on the daily timeframe is the long-term region of 30% of sellers (2930.52-2046.24). The nearest area of resistance when doing business within the current month is the long-term zone of 20% of sellers (5263.20–5842.56).
In the event of a breakdown and consolidation of the above-indicated resistance area, the next growth guide is the zone of 10% of sellers (8464.91–8754.59). The key area of resistance today is the zone of 4% of sellers (3517.24-3431.42). The immediate goal of growth in the zone of 2% of sellers (3899.33-3942.24). The key reference point for the reduction for the current working week is the zone of 6% of sellers (3092.24-3008.47).
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