Source: PaxForex Premium Analytics Portal, Technical Insight

Nasdaq-listed analytical software provider MicroStrategy bought 21,454 BTCs (~$250 million at the exchange rate at the time of the deal), becoming the first public company to invest part of its capital in bitcoin. 

Nasdaq 100, 30 min

Pivot: 12110.00

Analysis:

Provided that the currency pair is traded below 12270.00, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 12110.00
• Take Profit 1: 12000.00
• Take Profit 2: 11840.00

Alternative scenario: 

In case of breakout of the level 12270.00, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 12270.00
• Take Profit 1: 12440.00
• Take Profit 2: 12500.00

Comment:

As long as 12270.00 is a resistance, it is necessary to look for movement with a bearish bias.

Key levels:

Nasdaq 100, D1

Pivot: 12140.00

Analysis:

While the price is above 11400.00 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 12140.00
• Take Profit 1: 12550.00
• Take Profit 2: 13100.00

Alternative scenario:

If the level 11400.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 11400.00
• Take Profit 1: 10850.00
• Take Profit 2: 10295.00

Comment:

RSI is bullish and indicates further growth.

Key levels: