GBP/JPY Drops Like A Rock. Bitcoin On Support.

Published 05/29/2018, 04:52 AM
USD/CHF
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GBP/JPY
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BTC/USD
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GBP/JPY has been on our radar for a long time. We were expecting the price to fall and that is what is happening. Very good technical setup. The price broke all major supports and is in free fall, coming back to the long-term down trend. Potential profit is huge!


Bitcoin is having a rough May and the price is declining sharply. Currently, we are about to test the lower line of the symmetric triangle pattern, which may, but does not have to, bring us a small bounce. Breakout here will send BTC to the long-term horizontal support on the psychological barrier of 6000 USD.


USD/CHF broke the upper line of the flag in the uptrend. That is bullish, especially since before it happened the price created a triple bottom formation on a horizontal support, slightly above the uptrend line. All that shows a possible strength and is optimistic for the future.

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