Bitcoin exchange rate: the collapse of the cryptocurrency below 8 000$ inevitable?
The course leading cryptocurrency Bitcoin (BTC) shows more and more signs of continuing decline, so the remaining “bullish position” you need to either have a very large supply cache to sit out the expected reduction in or the other right now to think about closing deals. The current strong support in the region $8000 – $8270, where is the line 50-day simple moving average (MA) is holding back the “bears”. But the last configured too seriously and the current euphoria in the market developed before the Consensus conference 2018 with expectations of immediate growth of all altcoins, could be the one trap which will later be included in the textbooks for future traders.
Those same 5% of the market participants, known as the “smart money” is already in the market and are ready to profit on the coming collapse. It can begin in the next few days, maybe even hours. And the first targets will contribute $7400 and $7800, but appetites ready for the “feast” of blood still believe in the purchase of bitcoin will not be satisfied with that.
Breakthrough $7400 will give you the opportunity to take profits even lower at $6800, near which is located the lows of April and may of this year and a rising trend line. But what are we to expect further traders – while we will keep the intrigue, so stay tuned and more for our reviews and be on the side of “smart money”, with whom it is easier to earn.
The second capitalization cryptocurrency Ethereum (ETH) is like a lion, basking in the African sun, but do not forget that this wild cat. And at any moment the asset is ready to rapidly dash for their victims. And they will speak the “bulls” on Ethereum, proof of which will act as a break below support at $670.
Once that happens it will be too late, because a large capital will purposefully remove the “foot” in the area of $580 and $600. But are they limited to this? Of course not. Therefore, included pleasant music and just make the movement, which we wrote some weeks in the reviews. Next, pay attention to repeatedly occurred the consolidation between the levels of $500 – $540. Attentive readers of this review already knew, for certain, why pay attention to these values also.
Now let’s look at market news. More news comes that the stock market ceases to be a market of individuals and enthusiasts with $100 in his pocket, dreaming to make “x’s” on the cryptocurrency, and ICO, and it becomes a market, where people come to serious organizations and banks. This week provides access for institutional investors to exchanges and to help them volunteered subsidiary of the crypto currency exchange Coinbase, registered in the us market regulator SEC, and top Japanese Bank Nomura.
Each of them has prepared a project for the institutional investors. So the first firm is preparing OTC OTC platform, which will allow you to conduct transactions with tens of thousands of bitcoins, without attracting the attention of all traders in the so-called dark pool. So less believe claims of “pyramids” on the stock market, because big money is not only going to the market. They are already here, and ICBF will help you navigate where best to invest their money to earn with them.
Group analysis and research ICBF