Buy Bitcoin | 01 December 2017

Bitcoin Review

Technical Analysis:

Last week, Bitcoin stagnated around $8234 and is still around this zone. During last week, the last trading day, Bitcoin formed a bullish pin, just a day after there was an inside bar (on Thursday) this is s bullish set up and means this crytocurrency could continue to rise to with my next target profit set at $15,000.00. Bitcoin could stall around, $9,000.00 or even $10,000.00 before eventually rising to $15,000.00. As it is on the daily chart above, only a long position can be recommended. I expect a slight retracements to the lower side but not lower than last week's lowest low. That said, long Bitcoin now, or wait and buy on a pullback to the lower side.

Trade Signal:

Buy Bitcoin now towards 10,000.00.

Barclays Review:

Technical Observation:

As I said last week, Barclays bank shares gaped higher but could not reach the upper trend line acting as a resistance to the falling channel. The price is still rallying within this channel, thus, during this week, I expect a rise to the upper side, along the resistive trend line,  where I'll be looking for short position. My advice, if you're not long just yet, wait for a pullback to the lower side then pick a long position with your take profit along the upper trend line. Alternatively, you could wait for a pullback towards 9.06, then buy Barclays bank shares. As at the moment,  only a long position can be recommended.

Trade Signal.

Remain long towards the upper trendline.

MegaFon Review

Technical Observation:

For the past weeks, after hitting the upper resistance trend line, this integrated Russian telecommunications operator has been declining in value but is currently heading towards a key daily support level  543.4. This is a key hurdle and unless there's a clear close below it, I expect a bounce from this level to buy the shares of this company.  If there's a breakout below it, then I'll wait for a breakout below 531.2, to confirm a bearish rally towards 500.00 or even lower. A bounce from this support, may push the price to the upper side towards the upper resistance trend line. My advice, wait for a drop towards 540.3 then buy the shares of this telecommunication operator with your take profit along the upper resistance trend line.

Trade Signal.

Buy around 540.3-531.2 towards the upper trendline