What is going on with the crypto market?
As the cryptocurrency market is on mixed screen this Wednesday with Bitcoin, and most altcoins are swinging in close range without any feasible sign of an ongoing rebound.
However, traders know that the cryptocurrency market is always unpredictable and anything could happen to the price level.
Bitcoin (BTC) – It is at a price level of excessing RM16,000. As we can see, buyers are trying to push the price level to break through the ceiling. Based on the current situation, the technical indicators showed that it would cause a sign of overbought.
Chart provided by TradingView.
Ethereum (ETH) – Has settled around the price level of RM 558, as the second largest coin is moving within a narrow nature. This has been observed since 25th February. Most of the crypto players seem to be on the sidelines, waiting for the right time to re-engage the market.
Chart provided by TradingView.
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Trading on cryptocurrency carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade with MX Global, you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
MX Global Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.