The bitcoin exchange rate went from bearish trend and continues to grow

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At the equator of the week, the news of the stock market is moderately positive. On the one hand, the Reserve Bank of India said the possibility of issuing its own digital currency, the exchange EXMO announced the connection of world famous payment system Skrill (now have the ability to instantly replenish stock account in EUR, USD). On the other hand, the Japanese controller has just stopped working two kryptomere and India in the same exchange Coinsecure stated about the embezzlement of funds.
Yes, quotes bitcoin finally fully moved beyond the bearish trend formed since mid-December last year, but whether or not the way up? The answer gives just the price movement in the beginning of the week, no speedy performance powerful bullish flag was not followed, and without any sign of “weakness” its current trend the price “surrender.” However, she decreased for as long as necessary to complete the formation of the formation, so common on the chart bitcoin is a “rising wedge” – with its upper boundary 7500-8450 (and highs from 03.04 15.04) and the bottom of 6600-7850 (and lows from 10.04 17.04). In this regard, the growth potential of the coin there, but only to the “bull trap” wedge on a 9500. Testing of the formation will return prices in a downtrend that will likely result in the capture of the bears arrived at 1500-2000.
The Ethereum also no release rates up to 580, can not do, as on this chart formed a “weakness” of the current trend in the still of pronounced wedge, and practicing it does not imply a drop in prices from current levels.
Moderately customized news background is important, although secondary. If negative, any negative news effect is stronger than the positive background. Disappointed people disappoint even more easier than people who are full of hope for high profit. In this sense, “getting into the trap of” hopeful people are able to quickly change the mood of a news background.
Alexey Fedorenko,
Asset Manager