The second day in the community of crypto investors, active discussions continue as the G20 meeting on the regulation of the crypto-currency market ends. Earlier, the Financial Stability Board rejected the appeals of several countries to regulate cryptocurrency. This idea was also supported by the head of the Bank of England. But there are also those who harshly expressed their attitude toward crypto-currencies. The CSSF agency believes that crypto-currencies and "ICO" represent a danger to investors. BaFin (Germany) also warned the public about the risks of investing. With him, on the issue of high risks, "ICO" is also in agreement with the European body ESMA.
Uncertainty persists that we can see in the price of bitcoin, which is still traded in a narrow range and the price can not pass above the strong resistance level of 8600.00. If you look at the 30-minute chart of the bitcoin price, you can see the graphical model of the technical analysis "triangle" which is probably realized by moving downwards. It should be noted that the price went abroad the descending channel and the next level of support is located at 8150.00, from which, in case of the appearance of positive news, there is a possibility of a price increase. If the price succeeds to pass below and gain a foothold behind it, then the probability of movement to local minima at 7200.00 increases.
Uncertainty persists that we can see in the price of bitcoin, which is still traded in a narrow range and the price can not pass above the strong resistance level of 8600.00. If you look at the 30-minute chart of the bitcoin price, you can see the graphical model of the technical analysis "triangle" which is probably realized by moving downwards. It should be noted that the price went abroad the descending channel and the next level of support is located at 8150.00, from which, in case of the appearance of positive news, there is a possibility of a price increase. If the price succeeds to pass below and gain a foothold behind it, then the probability of movement to local minima at 7200.00 increases.
Comment:
The coin of the CREDITS project ("CS") continues to be traded in the green zone the second day. After the publication of the news on the successful CREDITS alpha version of the transaction, the "CS" coin rose to 0.0009 CS / ETH levels, after which the price found support for buyers in the range of 0.00084 to 0.00089, which can be seen as a strong price support level. According to graphical analysis, the price of the coin "CS" is now in the ascending channel, which increases the probability of its further growth.
Trade active:
The second day of the meeting of bankers and finance ministers at the G20 summit is coming to an end and there is no information on the relays of this meeting. Bitcoin at this time continues to trade in a narrow range of 8300.00 - 8300.00 which indicates the desire of investors to stay out of the market and wait for the results of the meeting. For today's trading session, the bitcoin price made one more attempt to test the resistance level at 8600.00 for the breakdown, which turned out to be unsuccessful and the price at the moment is below this level.
It is worth noting that while there is a strong pressure of sellers at a price near the level of 8600.00 and this can be regarded as a game of speculators as the results of the G20 meeting can be ambiguous because the finance ministers and bankers will not be able to come to an unambiguous decision. This can provoke investors to sell more actively, which will lead to lower prices and the renewal of lows.
On the other hand, if concrete agreements have been reached at the G20 meeting, the market will take it positively and speculators will have to close their short positions, which will lead to an increase in the price and possibly the beginning of an uptrend.
It is worth noting that while there is a strong pressure of sellers at a price near the level of 8600.00 and this can be regarded as a game of speculators as the results of the G20 meeting can be ambiguous because the finance ministers and bankers will not be able to come to an unambiguous decision. This can provoke investors to sell more actively, which will lead to lower prices and the renewal of lows.
On the other hand, if concrete agreements have been reached at the G20 meeting, the market will take it positively and speculators will have to close their short positions, which will lead to an increase in the price and possibly the beginning of an uptrend.
Trade closed manually