When long trades Bitcoin? Response graphs
Source:
is one of the most popular tools for cross-border payments. BTC than PayPal. Isn't that the sign of true acceptance of the cryptocurrency in the world? However, the asset price still have many obstacles to overcome before further growth.
The Overall situation looks like this:
the- cryptocurrency is preparing for a new test of the resistance; the
- on the value of BTC can make the difference between recent negative news from California.
Bitcoin was never able to gain a foothold above $ 4,000; the
This morning, a Bitcoin is trading at $ 3859. For the past day, the cryptocurrency has not changed in price.
theTechnical analysis
Recall soon in California can accept a new bill AB 1489, which greatly restricts the power of large investors in the state. Such concessions have to be made to the regulation of cryptocurrencies coincide with the laws of the United States.
If AB1489 really come into action, we are likely to see a strong dump on the chart of Bitcoin. The adoption of the bill will effectively exclude California residents from the list of legal investors. This fate first befell the people of new York, where even there are some services Coinbase.
Source: Included
In large scale Bitcoin is still moving in a horizontal channel with the boundaries of the 3500 and 4500 dollars. Overcoming one of these lines from either side of the market will determine the price movement of the cryptocurrency, at least for the next month. More conservative traders you'll have to refrain from opening trading positions.
A Prerequisite for long will be the break of the resistance zone of $ 4,500. Conversely, when falling below $ 3,500, you should short Bitcoin, up to $ 3,000.
While most players in the market holds a bullish scenario — as evidenced by the ratio of longs and shorts on the pair BTC/USD. So as not to miss a profitable opportunity, be sure to subscribe to our .
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