The European Central Bank prefers to stay away from the market of cryptocurrencies and its regulation. Such conclusions can be made after the ECB President answered the question of the EC Committee on Economic and Monetary Affairs. Draghi said that the ECB is not yet ready to develop a regulatory framework or to impose any prohibitions on the use of cryptocurrency in the protection of the banking sector. According to him, the regulator does not have the ability to prohibit and regulate bitcoin and other digital currencies.
Meanwhile, the "cryptocurrency fever" continues to spread. Yesterday, it became known that the financial regulators of Hong Kong are developing their own cryptocurrency and are actively using blocking technology. Blockchain can be applied in the field of mortgage offers and financial trading. As a result, two huge branches of Hong Kong may be benefited: finance and freight.
Also, the Hong Kong authorities created a unit that carefully examines the ICO and the state of the cryptocurrency market.
Bitcoin (BTC)
The signal to buy Bitcoin (BTC):
Exiting above the level of 3,962 led to a resumption of demand for bitcoin. At the moment, you can increase long positions after a similar breakthrough of level 4,231. This can lead to further growth of the trading instrument in the area of 4,364 and 4,537. In the case of a decrease in bitcoin, you can see new buys in the range of 4,155 or from the larger level 4068. This will be a very serious emphasis in shaping the future growth of bitcoin back to 5,000.
The signal to sell Bitcoin (BTC)
Bitcoin is best sold after an unsuccessful growth above the level of 4,231. In case of a return to it, it will be best to reduce to 4,155 and exit at 4,068, where it's best to record profits. In the case of a breakthrough in 4,231, sales are best returned to around 4,364.
