Bitcoin Today: Holding on 100-days EMA
Price
Second day in a lateral correction in 7300-7500 corridor. The fact that price still holds on to the 100-days EMA and does not go down talks in favor of bullish scenario and it is possible that soon we will see more attempts to go above 7600. 7300 is the support level for the bullish scenario, and 7600 is the closest resistance. A lot of analytics would prefer to emphasize level 7500, but the price is too close to those level and to consider a clean breakthrough we would prefer to see the price above 7600 level as it was the highest point, on Wednesday. From the bearish view, a breakthrough of the 7300 will lead the price to test 7000 level. A pullback below 7000 will mark a question above the whole bullish pattern that we saw in a last four days.
Today forecast
Trading in the 7300 – 7600 zone.
Main events of the week
Second day in a lateral correction in 7300-7500 corridor. The fact that price still holds on to the 100-days EMA and does not go down talks in favor of bullish scenario and it is possible that soon we will see more attempts to go above 7600. 7300 is the support level for the bullish scenario, and 7600 is the closest resistance. A lot of analytics would prefer to emphasize level 7500, but the price is too close to those level and to consider a clean breakthrough we would prefer to see the price above 7600 level as it was the highest point, on Wednesday. From the bearish view, a breakthrough of the 7300 will lead the price to test 7000 level. A pullback below 7000 will mark a question above the whole bullish pattern that we saw in a last four days.
Today forecast
Trading in the 7300 – 7600 zone.
Main events of the week
- Friday
- Crypto-currency Stellar has bypassed the capitalization of Litecoin
- The Gemini Exchange was licensed in New York State after generous donations to the Governor - Thursday
- In Russia, the owners of cryptocurrency will be obliged to pay a 13 percent income tax
- At 20 minutes, Bitmex closed short positions at $ 180 million - Wednesday
- Regulators have approved Coinbase for listing security-tokens
- IBM and the start-up Stronghold in cooperation with Stellar will release an analog of the tokenized dollar Tether - Tuesday
- The G20 Financial Stability Board will assess the risks of cryptocurrency - Monday
- Investment giant BlackRock created a working group to study the market of crypto-currencies
- Malta Gets its First Two-Way Bitcoin ATM
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