Will growth: why rejoice in yesterday's Pampa Bitcoin is too early?
Source:
On Friday, the price for the first few weeks rushed up from 10.5 percent. Trade BTC/USD set a new local maximum in the area of 3710 dollars, and then fell back below. From the point of view of fundamental factors the reason for the growth is quite simple — one of the SEC commissioners, Robert Jackson Jr., in a recent interview admitted the possibility of imminent approval for a Bitcoin ETF.
theBullrun still has not come
Thanks to yesterday's price surge, the cryptocurrency broke above the falling wedge at scale 4-hour chart. She also has fixated above the moving average 200 SMA.
However, the pump still does not guarantee bullrun in the long run. To continue the upward movement of Bitcoins, you first need to form a good support level below yesterday's spike was not about punching resistance. In the coming days, the cryptocurrency is likely to be spent on correction to the level of 3600$. If Bitcoin falls below, the next stop is the 200 SMA on a scale of 4-hour chart.
Less positive scenario is also possible. Recall that in the period from 24 November to 15 December Bitcoin already broke the falling wedge and raised up to $ 4412. Some time later, the bulls failed to hold on to the support in the area of $ 4,000, and the cryptocurrency tumbled down.
Source: CCN
What do the traders now? We recommend you to follow several important price levels. You can have them put it on the schedule Fibonacci levels from the local maximum of 4235 $ to a local minimum 3,340 USD. At the moment the main resistance level is the area 3682 dollars, after breaking recommend opening a long position.
At the same time falling below $ 3552 will be a good signal to short with the aim of fixing the profit at the level of 3,340 USD. Not to miss the opportunity to open a lucrative trade deal, visit our .
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
Rally Bitcoin — deception. Well-known economist advises to invest in gold
Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...
Related News
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in...
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Ultimately, the Bitcoin ETF is approved. The words of SEC Commissioner
government news resource Roll Call published an interview with Robert Jackson, Jr. The Commissioner believes the SEC will still get the Commission's approval. He hopes that someone in the end will satisfy the SEC's requirements. S...
Bitfinex has resumed after an unclean shutdown. Money safe
Today, Hong Kong-based crypto currency exchange Bitfinex using Twitter is advised to temporarily disable trading platform for all users because of the significant surge of CryptoRandom. It was initially reported that the platform ...
Tron was ahead of Ethereum in popularity in Google Trends. The gap is growing
According to the latest data, collects more requests to Google than , and the preponderance continues to increase. According to representatives of the Dapp Review, in the top 50 of the ecosystem of decentralized applications 23 pr...
Chanpen Zhao: Binance can survive any bear market
the Billionaire, Chanpen Zhao ready for anything — according to him, Binance can survive any bear market. The case of the trading platforms are so successful that even the rapid decline couldn't cause it significant damage in fina...
Cryptoprocta TON from Telegram's almost ready. When will launch?
Open Network Telegram TON may go down in history of cryptosphere as the most secretive but well-funded project to date. Last year ICO popular messenger Telegram whopping $ 1.7 billion sale of tokens Gram to a restricted list of in...
Will have to wait: Ethereum will drop to $ 90 before the Grand growth
the stock market is now more reminiscent of a lifeless desert, because the period of low volatility of cryptocurrency is strongly reflected in the dynamics of the auction. as long as you hold above 3400 dollars and did not fall be...
What altcoins will increase in February? Analysts forecast
the Service published the results of its latest monthly poll of leaders of kryptonyte and FINTECH experts. The overall trend is quite positive — many believe in the imminent growth of digital assets, but in a strong bullish predic...
For the growth of cryptocurrencies need not ETF. The opinion of the CEO Binance
the General Director of the leading cryptocurrency exchanges Binance Chanpen Zhao said that the ETF for the cryptocurrency cannot be a panacea. This opinion he expressed during the broadcast of the Periscope. In his opinion, the i...
Judge: capturadora waiting for another round of pain
it would Seem that the stock market has already passed through fire, water and copper pipes. As it is not so. Fundstrat Global Advisors analyst Robert Slamer said that the worst of times for the crypt is yet to come. In his opinio...
ASIC miners made it to Monero. Hasrat network has increased dramatically two times
Over the last month has increased two times, which raised suspicions within the coins. Some commentators point to the apparent presence of Asimov network Monero. If this is true, then soon the XMR developers will have to spend har...
Mt. Gox returns. Why would anyone need a Gox Coin?
the hacking of the exchange Mt. Gox suffered 24 thousand people. Then 850 thousand bitcoins, which was equivalent to 460 million dollars. The situation is evolving: a new movement called GoxRising urges rapid rehabilitation plan o...
Litecoin makes a step forward Mimblewimble. The team now collaborates with the Beam
the Team is actively working on the implementation of privacy and interoperability. The company entered into cooperation with what now they will work together on the implementation . One of the goals is to improve privacy in the c...
The Ethereum hold above $ 100. What do the traders?
the Price again went to a local adjustment. Fortunately, the bulls manage to hold the psychologically important level in 100 dollars. If this trend will continue in the future, it makes sense to count on growth of the asset in the...
BAT increased by 32 percent on the day. What is the reason?
Educational from Coinbase hosted the final stage of testing is now the platform will allow its users to make knowledge about the crypt. Thanks to the launch of Coinbase Earn tokens BAT increased in price by 32 percent. Recall that...
Mining alive? Fans of the crypts was caught stealing electricity for 250 thousand dollars
police arrested a group of suspects for theft of electricity to service a cryptocurrency mining farm. According to Cointelegraph, the police traced the network of 49 computers in the premises of the former energy company PGH Elekt...
A mystical exchange: five suspicious facts about the death of the CEO of QuadrigaCX
recently in Bloomblerg has information that QuadrigaCX CEO Gerald Cotten legally changed his will 12 days before his death. The last will of the deceased to transfer the assets to his wife, Jennifer Robertson. The truth of the who...
The end of the story: hackers sold the last inventory of the stolen coins from Cryptopia
the Sad history of burglaries Cryptopia coming to an end — hackers, hacked the stock exchange, selling the last of the stolen coins. According to preliminary calculations, all they managed to divert approximately 16.1 million doll...
Comments (0)
This article has no comment, be the first!