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FX.co ★ Trading recommendations for Bitcoin, September 8, 2017

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Crypto Analysis:::2017-09-08T09:04:52

Trading recommendations for Bitcoin, September 8, 2017

Yesterday, Mario Draghi raised the issue of cryptocurrency, or rather he had to answer the question about Estonia's plans to create its own cryptocurrency. To this, the head of the ECB replied rather laconically: "The currency of Estonia is the euro." Despite the fact that neither the ECB nor the Fed has yet been given detailed explanations regarding the currency, and other major central banks are rather concerned not with the development of regulatory norms, but with bans and restrictions, this issue is simply in the air. And while the main central banks remain silent, Bitcoin retains the potential for further growth. Just on emotions.

Thus, the forecast for medium-term growth of Bitcoin above 5,000 dollars remains in force.

The technical picture

The forecasts for Bitcoin are currently unchanged from yesterday's judgment, as we discussed earlier, Bitcoin reached the second key value of 4650, where it systematically slowed down the movement, allowing the bulls to regroup and, as a fact, form a rollback in the form of a small flat 4500/4650. Probably assume that in the near future, the "bulls" will try to form a cluster near the 4650 mark, fixing above and opening the way to the psychological level of 5000, where to expect a stop with a further breakdown.

Trading recommendations for Bitcoin, September 8, 2017

Attention: Forecasts are not a direct guide to action!

Analyst InstaForex
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