58COIN Daily Trading Reference

[58COIN] Jan. 28, 2019 Monday


BTC began to fall sharply in the morning. It has dropped 120 points and fell to the previous low of 3,440. The wider band tilted down, and the overall market fluctuated in a bearish bias. The daily chart shows that the current price is below the short-term moving average, the KDJ and RSI indicated a death cross and the trend is weak. Investors should focus on short. The short-term downside is not big seeing from the narrow band, the support level of the lower band is around 3,380. It is recommended to wait patiently for short-selling opportunities after rebound, and radical investors can long at 3,380 — support level of the lower band.

Resistance Level: 3,450; 3,495; 3,520; 3,540; 3,555; 3,580; 3,610; 3,640; 3,670

Support Level: 3,410; 3,380; 3,350; 3,330; 3,290; 3,260; 3,220; 3,190; 3,160

Suggestions: Long: 3,410–3,380; stop loss: 3, 350; target: 3,450; 3,490; 3,530

Short: 3,530–3,570; stop loss: 3,585; target: 3,500; 3,460


Resistance Level: 2.31; 2.33; 2.36; 2.385; 2.4; 2.42; 2.44; 2.45; 2.48

Support Level: 2.29; 2.27; 2.25; 2.24; 2.22; 2.18

Suggestions: Long: 2.27–2.24; stop loss: 2.23; target: 2.31; 2.34

Short: 2.36–2.39; stop loss: 2.41; target: 2.34; 2.31

The specific operation is subject to the real-time prompt in the market!


The trading strategy is for reference only and the investment risk is borne by yourself. Investment involves risks, you should conduct your own research when entering the market!


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