BTCUSD : South Korean Gov and the double downtrend.
Updated
Crypto-currencies was one of the topic in the table at the World Economic Forum in Davos.
The majority of the top investors are pushing for more regulation for bitcoin.
After a potential ban of crypto-currencies by South Korea we see these double downtrends.
Recently the SK government announced they simply banned anonymous bank accounts for cryptocurrency trading.
Now the BTCUSD price is currently in no man’s land between two army : bears vs bulls.
Actually we are facing 2 resistances.
If the bulls break out of the first resistance, we can expect a rally until the second one.
1s Target : 11,380
The majority of the top investors are pushing for more regulation for bitcoin.
After a potential ban of crypto-currencies by South Korea we see these double downtrends.
Recently the SK government announced they simply banned anonymous bank accounts for cryptocurrency trading.
Now the BTCUSD price is currently in no man’s land between two army : bears vs bulls.
Actually we are facing 2 resistances.
If the bulls break out of the first resistance, we can expect a rally until the second one.
1s Target : 11,380
Trade active
We reached the first target.Wait and see until the second target.
2nd Target 11,720
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