Bitcoin-Singapore Dollar (BTC/SGD) Short Term View

Insignia Consultants

                                                                                   New Delhi

Monday, December 6, 2021  TIME 12:02 PM IST                       

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Bitcoin-Singapore Dollar (BTC/SGD) Short Term View

BTC/SGD (current price: $78002.20)

Btc/sgd has risen around 98% this year even after the crash. Bitcoin/Singapore dollar is my third most preferred crypto currency to trade and invest. (after ethererum and Solana). Btc/sgd and btc/eth are the safest to trade among the very high risk crypto currency asset class.

100 day moving average: $74315, 200 day moving average: $63162.70 50 week ma: $64946.70

Support: $48716, $54313, $58836 and $63162 Resistances: $74315, $87048.50, $92644.60 and $97168.10

Short term View:

  1. Btc/sgd needs to trade over $63162 in the short term to rise back to $97168 and may be even $116334.
  2. Right now trend and momentum is down. But there will be another wave of sell off if btc/sgd trades below $63162 only to $58836 and $39670.
  3. A daily close over $74315 for four consecutive days will restart the immediate bullish trend and pave the way for a new all-time high.

Disclaimer: The above is just a technical view. The above is not an investment advise. Crypto currencies are not yet legal in India. Crypto currencies are very high risk investment class. 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. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.

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