Bitcoin managed to restore its position from a minimum of 4000 USD. After yesterday, it was reported that the Bitcoin Foundation received legal support and is ready to continue to fight against all hard forces against tough federal and regional regulation in the United States. Let me remind you that the main task of the fund is to protect the interests of bitcoin and blockade. The fund said that the priority will be the participation of a dialogue with the US Congress, which lately has been struggling against the introduction of the cryptocurrency.
If the Bitcoin Foundation actually manages to find leverage for at least some congressmen, this could lead to an increase in demand for Bitcoin and its return to the historic maximum of 5000 USD.
Yesterday, it also became known that the chairman of the Far-Eastern Bank of Sberbank Dmitry Sukhoverkhov spoke in favor of the introduction of the digital currency. According to him, small domestic entrepreneurs can use the digital currency bitcoin, since the use of a block of cash will lead to a radical cheapening of transactions for small businesses. Sukhoverkhov also noted the rapid pace of development of the Crypto-currency.
Let me remind you that the pressure on Bitcoin earlier this week was caused by the decision of the People's Bank of China, which took an unprecedented step to ban all ICOs in the country.
Bitcoin (BTC)
The signal for purchases Bitcoin (BTC):
While the trade is above 4364.50, and it was possible to gain a foothold above this level yesterday at the end of the American session, there is a real chance of continued growth of bitcoin already to the area of larger resistance levels of 4600 and 4787. In the case of falling to the level of 4364.50, it's best to go back to the purchases when updating to 4205 support, which was formed yesterday in the afternoon or on a rebound from 3991.
The signal for Bitcoin sales (BTC):
Sellers yesterday lost the upper limit of the downward channel, which led to the formation of instant demand for Bitcoin. At the moment, it's best to go back to sales after descending to the support level of 4364.50 or after updating new highs in the area of 4600 and 4787.
