Daily Technical Analysis: Bitcoin Breaks Down-trendline!

ZFX  – Today’s daily analysis will focus on Forex, Cryptocurrencies (BTCUSD) and Indices (NAS100). Also, at the end of the article there is a trading idea (signal) for AUDJPY which might be an insight for you.

Every afternoon in the London session, ZFX Indonesia provides a technical analysis or outlook in the form of a video, don’t forget to check the analysis video on our YouTube channel.

So how about today’s Pre-London Analysis?

Before you start trading, you need to do some analysis first. Here’s a little summary of today’s market outlook (21/12/2021) brought to you by ZFX Analysts:

XAUUSD Technical Analysis – Commodities

XAUUSD (Gold) is falling deeper after rejecting the resistance area at H4. Now it is still stuck at the key level area around 1788, but if it is successfully penetrated and able to pass the previous daily low, then it may be able to fall further to the 1770 area.

BTCUSD Technical Analysis – Cryptocurrency

BTCUSD managed to break the down-trendline on H4. After the breakout, it was successfully held by the MA 100 line which acts as a dynamic support. Bitcoin is on its bullish way to touch the resistance area at 50,000 or further to challenge the 200 MA as dynamic resistance around 51,800.

NAS100 Technical Analysis – American Stock Index

The Nasdaq 100 index, which consists of 100 selected US stocks, appears to be in a strong bullish trend. Even though it has been ranging recently, we can see that there is an up-trendline that is ready to help itself rise further, at least up to the previous resistance which was also an all-time-high around 16,600.

Trading Idea – AUDJPY (Sell Limit)

Order: Sell Limit
Entry: 81.900
Stop Loss: 82.500
Target 1:  80.500 (50% + BE)
Target 2: 80.000 (25%)
Target 3: 79.000 (25%)
Risk total: 1-2% Equity (Medium Risk Setup)
Reason: QM set up with confirmation of lower low.

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Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.