FX.co ★ Technical analysis of BTC/USD for 25/09/201

Crypto Industry News:

According to the job offer at LinkedIn, NASA has a vacant position at the Jet Propulsion Laboratory in California, whose primary function is the construction and operation of unmanned planetary spacecraft and conducting orbiting missions.

Among a large number of qualifications required, NASA exchanged knowledge in at least one related field, including Big Data, machine learning, Internet of Things, analysis, statistics and cloud computing. The agency also sought experience in the field of cryptocurrencies and Blockchain technology, stating that such qualifications would be considered a plus.

These qualifications are to be implemented by a data scientist when designing and implementing a program to analyze complex, large data sets used for research, modeling, data mining and predictive analysis at NASA, the agency wrote.

Technical Market Overview:

The BTC/USD pair has invalidated the bullish impulsive scenario after the level of $9,232 has been violated. The current Elliott wave count has been invalidated as well and the alternative count is now in charge. In this count, the recent spike down is a part of the wave (C) development but it has not been completed yet, so there might be another low blow the level of $7,935. The nearest technical support is located at the level of $8,102 and $8,379. The nearest technical resistance is located at the level of $9,046.

Weekly Pivot Points:

WR3 - $11,109

WR2 - $10,706

WR1 - $10,333

Weekly Pivot - $9,939

WS1 - $9,560

WS2 - $9,159

WS3 - $8,757

Trading recommendations:

Due to the short-term impulsive scenario invalidation, the best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.