The exchange rate of bitcoin is climbing up on the strong motivations of investors

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Within the last week, we noted the possibility for downward movement in Bitcoin (BTC) to support at $6300, which was successfully implemented. Further, we assumed the formation of the upward correction with the potential to reach areas powerful resistance $6650 – $6800. If he falls under the pressure of several months of pent-up bulls, then they will already be difficult to hold, and their first targets will be the levels of $7050 and the consolidation area of $7375 – $7500, which has been repeatedly noted in the reviews of the experts.
These values can be achieved in the framework of probably formed the model of technical analysis “inverse head and shoulders”. Confirmation for this forecast will be a break of the $6800 and in the case of 100% testing of the cryptocurrency idea is to await the development of markers close to $7800. This idea is for short-term trading within the upcoming weeks and his development is fostered, as if appearing positive news.
So the world’s largest financial corporations have changed their skeptical attitude towards cryptocurrencies in undisguised interest. So the largest financial Corporation of the Purple Group added to their trading platform bitcoin and Ethereum clients to be able to perform the operation. And “the icing on the cake” of the celebration of optimists was yesterday’s message about the interest of the large capitalization Fund BlackRock ($6.32 trillion in March 2018) to the ability to trade futures on bitcoin. And this is not a complete list of investigators, and we must understand that the influx of new resources will lead to stable growth in the future courses of cryptocurrency.
Not far behind bitcoin in an effort to conquer new heights and altcoins. So Ethereum (ETH) rushed to an important resistance of $487 (23.6% correctional level of Fibonacci lines). Successful overcoming of this value will not leave “chance” for a pending soon “collapse”. This build trades will reflect on profit fixing at levels of $520 – $530 also within the coming weeks.
Paul Shipunov,
Head of unit, analysis and research,