The exchange rate of bitcoin is at risk to fall to around 4 800 dollars
Having failed to develop a rise above $5300, bitcoin exchange rate reversed on Thursday to decrease. However, the current price of Bitcoin yet, more like a cautious profit-taking, and volipresence decrease the reference cryptocurrency from 5400 to 4900 fit into the definition of a correction after a jump of close to 4100 levels.
However, if technical analysis really is now crypto driver, you should pay attention not only to attempt bitcoin to stay near the round level of 5000, but the RSI signals. The relative strength index informed quite reliably indicated the impetus for the course BTCUSD. Its decrease below 70 on the daily charts is a signal for the possible development of further correction in addition to the frustration of players from neprobivaemosti 5300 level, where the 200-day moving average.
The exchange rate of bitcoin is waiting for action from the major “whales” of the stock market
Yesterday’s sale of bitcoin also coincided with bringing in the movement of capital major crypto-wallets. Per day investors the whales moved almost 43000 coins. Transactions were mainly carried out from the exchanges on unknown wallets or exchange on the stock exchange. Market participants in General, it seems that now there are some deep fundamental changes, but the direction is quite difficult because on the surface nothing seems to be happening. It is highly likely that the whales really gone deep into the water, and there is formed the future direction of the market.
Altcoins, as always, demonstrate a complete lack of his own opinion, duplicating the waves of negative or positive first cryptocurrency. Top 10 altcoins at the moment losing 4% -7%.
Meanwhile, very disturbing for the value of bitcoin news has come from China. The government is not enough ban ICO and cripture: now close can mining sector. Obviously, in this case, the cost of production will rise. On the other hand, in turn, this may be an important factor for the growth rate of BTC. In addition, many areas of the market is cautiously watching the centralization of computing capacity in China, and now some of their fears can be dispelled.
________________ Alexander Kuptsikevich,