The Bitcoin (BTC) has been trading upwards. The price tested the level of $6.230. The Iranian government has been conducting a research into the economic and infrastructural aspects of preparing for bitcoin use in its country. According to the ministry of information technology, "arrangements are being made" to put together the infrastructure for the digital currency "as early as possible." Technical picture looks bullish today.
Trading recommendations:
According to the H1 time frame, I found a broken pivot resistance 1 at the price of $6.200, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $6.311 (pivot resistance 2) and at the price of $6.400 (pivot resistance 3).
Support/Resistance
$6.109 – Pivot level
$6.311 – Pivot resistance 2
$6.400 – Pivot resistance 3
$5.995 – Pivot support 1
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