BitcoinLong
BTC–we are in the uptrend tunnel. Positive regulations in Korea.
Updated
Hi Guys.
As we predicted in our previous analysis we didn’t fell below $5800. You will find this analysis down below.
We are currently in a weak uptrend. Still lot’s of uncertainty on the market mainly due to lack of regulations.
There are some good news regarding above mentioned.
According to Korea Times, a number of lawmakers across all political options want to regulate cryptocurrencies and ICOs.
They even hold extraordinary session of the National Assembly between 13th and 16th of July to address the legal status of cryptocurrency and regulatory guidelines for crypto exchanges.
Their aim is to establish guidelines for all cryptocurrencies actors and further make it law.
Rumour has it that they want to proceed this new law before official G20 Summit which will take place in Argentina on 19-22 July 18.
If the rest of the countries will agree with them it might be massive break out.
The only thing which pauses financial institution from investing in crypto is lack of proper regulation. Stay vigilant during and right after summit in Argentina. It may be breakthrough.
Let’s get back to the chart.
Guys we are low but in slow uptrend channel. We bounced off from the $6250 and the chart crossed also SMA6.
Let’s wait till SMA6 crosses SMA20 for the confirmation.
Technical analysis details
To summarize – we have still one week till summit. We hope to get positive outcome from there. We are really low at Fibonacci scale.
It's time to go up finally.
Please do share your comments down below. Do you have also any expectations towards G20 Summit? Like it? Give a like. Want updates? Click follow!
Thank you for being here. It is great to be part of our community. :):):D
HUGE Hugs!
WBM Team
As we predicted in our previous analysis we didn’t fell below $5800. You will find this analysis down below.
We are currently in a weak uptrend. Still lot’s of uncertainty on the market mainly due to lack of regulations.
There are some good news regarding above mentioned.
According to Korea Times, a number of lawmakers across all political options want to regulate cryptocurrencies and ICOs.
They even hold extraordinary session of the National Assembly between 13th and 16th of July to address the legal status of cryptocurrency and regulatory guidelines for crypto exchanges.
Their aim is to establish guidelines for all cryptocurrencies actors and further make it law.
Rumour has it that they want to proceed this new law before official G20 Summit which will take place in Argentina on 19-22 July 18.
If the rest of the countries will agree with them it might be massive break out.
The only thing which pauses financial institution from investing in crypto is lack of proper regulation. Stay vigilant during and right after summit in Argentina. It may be breakthrough.
Let’s get back to the chart.
Guys we are low but in slow uptrend channel. We bounced off from the $6250 and the chart crossed also SMA6.
Let’s wait till SMA6 crosses SMA20 for the confirmation.
Technical analysis details
- Channel: Levels to break: $6500; $6700; $6950; $7200
- MACD: We are heading for bull’s cross
- RSI – strongly oversold – look at the history: each time this indicator is on oversold zone price of BTC goes up
- Gann Fan – we are crossing 1/3 level heading to ½. Still too weak for safe trade
- Weis Waves – not much demand yet – we have to wait.
To summarize – we have still one week till summit. We hope to get positive outcome from there. We are really low at Fibonacci scale.
It's time to go up finally.
Please do share your comments down below. Do you have also any expectations towards G20 Summit? Like it? Give a like. Want updates? Click follow!
Thank you for being here. It is great to be part of our community. :):):D
HUGE Hugs!
WBM Team
Note
Gann Fan and Weis WavesNote
Is it a bear trap? On RSI seems like double bottom forming. Small volume on both demand and supply. Note
Next resistance might be at $5900 Note
Market is so much manipulated right now. DON'T PANIC and DON'T SELL
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.