The all-new BMW M4 CSL

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 The all-new BMW M4 CSL: The Legend is Reborn To celebrate their 50th anniversary, BMW  GmbH presented their fans with a special edition car based on the high-performance  models. The new BMW M4 CSL combines old-school racing passion with the latest innovative technology to yield a beast of a car. Competition, Sport, Lightweight. In case you haven't figured out, that's what the CSL stands for. The car posses the next-level power and intelligent lightweight design, model-specific chassis upgrade on the two-seater configuration. The M4 CSL share similar performance specs with the BMW M4 GT3, the M4 CSL clocked the fastest Nurburgring's Nordschleife circuit lap times for a series produced BMW car. The beast boast 3.7 seconds from 0 - 100 km/h, and 10.7 seconds sprint from 0 - 200 km/h! BMW plan to produce a limited 1000 units of the lightweight beast, only weighing 1625 kg, giving it a power-to-weight ratio of 4.01kg/kW. Impressive. Significant amount of weight have been shed
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Crypto Analysis and Forecast

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I have been following cryptocurrencies for a while now, and I own a few coins through VALR. VALR is one of the South Africa's cryptocurrency brokers.


Since Bitcoin broke down I have been generally bearish on crypto. However, I had a buy signal for Litecoin and XRP; I have since exited the Litecoin position, with a tiny loss. Let us look at what to expect from the cryptocurrency space.

Bitcoin:

$BTC moved up from the near $30 000 support level back to the near $40 000 resistance level. Note that the 200EMA is now facing downward and the 50EMA is approaching it. If we see a death-cross here we can then expect the price to go back to the support level. However, if there are enough buyers to push the price beyond the resistance level, then we might see Bitcoin go back to the previous high of $60 000.


Dogecoin:


DOGE just broke below the 50EMA. It is common that price can retest the 200EMA level once it breaks down the 50EMA, we saw it with Bitcoin. If that happens then we might see DOGE go down by -45% at current price level. Unless you have a stomach to hold that drawdown, it may be prudent to cover your long position until DOGE is back above the 50EMA, or find support at the 200EMA. For now, I do not have a position on DOGE.


Ripple:



XRP is my only open cryptocurrency position. So far it has not triggered the stop loss, the price is still above the resistance level. But, with most cryptocurrencies in the shambles, I am keeping an eye on this position in case it goes south.

Trade level:

Entry: 0.854

Stop: 0.63

Target: 1.95

Here we have a potential of a 1:5 risk-to-reward. I am are targeting the all time high of XRP.


Let me wrap it here for today. If you do not have a cryptocurrency account, open one with VALR. 


Comments, suggestions, leave them below.


Happy trading, always manage risk.



Location: Pretoria, South Africa

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