Yesterday we had a nice rally from $3950 to $4200. We used a 12H chart for the analysis.
It looks pretty decent.
The chart is over Tenkansen (red) which broke KijunSen(blue). Everything is over the cloud.
The correction bounced from the TenkanSen.
The local support is still in force – 3 times bounced from the support line.
Anyway, we have to break $4500 for good with a couple of bars above this price (look at the ) to go further and observe (stable) uptrend.
Further technical analysis:
• – positive divergence
• CMF - a positive trend and recently it has crossed 0 –
• Weis - the supply is still decreasing - all we need more demand
Beyond - we have two good information from Japan.
1. The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets
2. Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits for better protection
of the customers. Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend
to issue virtual currencies in exchange for investments will be required to register with the FSA.
So this is actually very good news. As many countries such as USA, South Korea, European Union, won’t be willing to stay behind they will follow regulation in Japan.
We stay positive over the year 2019. We hope this year will bring many good regulations worldwide thus more interest and money influx from institutions.
What are your hopes our dear investors?
Are you positive?
Please leave a comment in the section below.